Business Protection News

New & emerging risks

We're happy to present Business Protection News (formerly known as P&C Minute). Every other month, the Corporate Property & Casualty Consultant team will briefly tell you about new and emerging risks, how to use your policy, and much more.

Artificial intelligence and potential threats regarding Cyber Liability Coverage

Did you know that an estimated 3.4 billion spam emails are sent each day?¹ On this episode of Business Protection News, learn more about Artificial Intelligence (or AI for short) and potential threats regarding Cyber Liability coverage. AI technology enables more sophisticated phishing attempts that are hard to uncover, but there are steps you can take to mitigate these risks.

In case you missed it

Here are a few resources to provide you with actionable insight and proven risk mitigation guidance to help you stay on top of emerging risks.

Webinars and education

• On-demand Office Hours: Lending risk landscape — A successful, well-run lending program does not happen by accident. In this webinar, you’ll hear about risks, insights and loss mitigation tips to help your credit union succeed in the lending arena.
  Presentation | Recording

Risk management resources:

Additional resources to help you manage the complex array of ever-changing risks.

• Artificial Intelligence risk overview — With the progress, trends and growing adoption of Artificial Intelligence, there are conflicting views about the risks, benefits and tradeoffs involved with using AI at scale. This risk overview provides potential AI risks and challenges that you should consider. Read overview

RISK Alerts:

Recent alerts issued about risks impacting credit unions across the country.

• Workplace violence prevention gets prioritized — Workplace violence is a real and serious incident that can happen within your company’s walls. Prioritizing violence prevention efforts is not only the right thing to do, but also required under the General Duty Clause of the OSHA Act of 1970, in addition to some state laws like California. View alert²
• Update: Nacha proposed ACH rule changes for 2024 — Nacha members have approved changes to the Operating Rules that are intended to reduce the incidents of fraud that make use of credit-push payments. The effective dates of the final rules are October 1, 2024, and 2026. View alert²
• Money mules & member-to-member transfers — Money mules are more prevalent in schemes orchestrated by fraudsters who seek to launder stolen funds obtained through account takeovers. Money mules are often recruited through social media platforms to open fraudulent accounts at specific credit unions, using their own identities as well as stolen and synthetic identities. View alert²

How employee’s insurance and the credit union’s business auto policy work together

This episode of Business Protection News focuses on how the employee’s insurance and the credit union’s business auto policy work together when employees are driving their personal vehicles for credit union business.

Technology-based programs to manage and streamline day to day requests

We strive to provide your credit union with technology-based programs to manage and streamline your day to day requests which helps to stay on top of demanding verification needs. You can submit Certificate of Insurance requests, add, or change locations, file a claim and so much more online! Smart Forms, more formally known as Online Interactive Forms, is one great feature we offer at TruStage.