Editorial content organized by topic
Sponsored content from industry partners
PRODUCT/CONTRACT ANNOUNCEMENTS
Latest offerings by category 
JOB BOARD
Articles submitted by industry partners
cover.jpg
Online Edition

 
Sandy: How it went, what we learned, future impacts E-mail

Issues range from readiness to future of flood insurance

 

http://www.ababj.com/images/stories/121212_sandy_collage.jpg

 

Hurricane Sandy brought devastation to many areas, and taught Manhattanites that even their concrete canyons weren't immune to Mother Nature's nastier moods. Banks in Sandy's path, woven into the fabric of communities large and small, often found themselves among the essential services that shaken citizens most wanted to see restored, after light and heat.

 

In an industry where institutions are examined for business recovery readiness, banks found themselves prepared for bad times. Many preparations worked, some need rethinking, and others need revamping.

 

Over the horizon, as cleanup and reconstruction continue, remain questions. You'll find many of these posed in the articles that appear below.

 

How it went: "Nothing counts like preparation

 

  • • FS-ISAC: Force behind the scenes:
  • How FS-ISAC--Financial Services Information Sharing and Analysis Center--helped maintain financial infrastructure in the wake of the storm.

 

 

  • • In New York: Get cash, get warm, recharge
  • As state recovers, bankers set up emergency loan fund.

 

• In Connecticut: Out with rugs, in with grace periods

Communicating when the power's out. 

 

 

What we learned

 

 

 

 

Future impactand the ongoing flood insurance compliance challenge

   

  • • Cresting Problems For Flood Insurance
  • Uncomfortable decisions blew in with Sandy, writes Common Sense Compliance blogger Lucy Griffin.

 

• Understanding the Biggert-Waters flood regulation

 Are you up to date with this law, much of which is already effective? A recap of the legislation from Anthony Dandola, ICS Risk Advisors


  • • Revised Standard Flood Hazard Determination Form (Maybe)
  • Common Sense Compliance blogger Nancy Derr-Castiglione reviews form changes from FEMA (September posting)

 

 

Aids for ABA members

 

  • Compliance Solutions: ABA maintains an extensive member-only page of flood insurance documents and helpful links. Click here and log in for help.

 

  • Product Solutions: ABA's Corporation for American Banking endorses the insurance services of van Wagenen Financial Services, Inc. Click here for a page listing the services plus a link to the firm's November 2012 regulatory webinar.

 

• ABA's Insurance Risk Management Annual Forum: Feb. 3-6, 2013, meeting includes a session called "After Effects of Sandy: An Autopsy" Read more/register

 

 


Photo credits L to R, top to bottom: Glynnis Jones / Shutterstock.com; Leonard Zhukovsky / Shutterstock.com; Leonard Zhukovsky / Shutterstock.com; Anton Oparin / Shutterstock.com; Sam Aronov / Shutterstock.com; Gina Jacobs / Shutterstock.com; Anton Oparin / Shutterstock.com; Anton Oparin / Shutterstock.com.



[This article was posted on December 13, 2012, on the website of ABA Banking Journal, www.ababj.com, and is copyright 2012 by the American Bankers Association.]  

Trackback(0)
Comments (0)add comment

Write comment
quote
bold
italicize
underline
strike
url
image
quote
quote
smile
wink
laugh
grin
angry
sad
shocked
cool
tongue
kiss
cry
smaller | bigger

security image
Write the displayed characters


busy

 

ABA BANK DIRECTORS BRIEFING
ABA Bank Directors Briefing For the director who wants to stay on top of the job

ABA Bank Directors Briefing