Pub. 14 2019-2020 Issue 5

WWW.NEBANKERS.ORG 26 N BA MEMBERS: TO THOSE I HAVE HAD THE PLEASURE OF meeting, thank you for your personal and profes- sional introduction to the banking world. To those I have yet to meet – we need to remedy that situation in the foreseeable future! I would like to make a brief personal introduction and also highlight some key programs available to you through the Nebraska Bankers Association. I joined the Nebraska Bankers Insurance Services Co. (NBISCO) in March 2019 as the vice president of marketing, replacing Bill Smythe. I bring more than 20 years of insur- ance experience to NBA members ranging from catastrophic claims involving tornadoes, hurricane and earthquakes, to field underwriting and management. My professional career has taken my family and I across the country from California to Delaware and a few places in between. My wife, daughter and I are thrilled to now call Lincoln our home as many of our family members are located here in Nebraska. In my short time at the NBA, I have been welcomed with open arms and feel truly blessed to be a part of this great organization and the banking industry. Throughout the past nine months, I have driven across the state to meet with many of you to learn about your respective institutions and how we may serve your institution’s needs. I strive to foster and conduct business face to face whenever possible. While the NBA is widely recognized for our education, gov- ernment advocacy and outreach efforts, I’ve found that some members may not have a full view of all current programs and benefits available through the association. Your NBA member- ship also includes access to the Voluntary Employee Beneficiary Association (VEBA) and NBISCO along with Agency Services. These NBA departments and staff deliver a wealth of knowledge, products and services available to your bank. As the banking and insurance industries continue to evolve, staying engaged with the NBA is as important as ever. In recent travels, I have had the opportunity to converse with my col- leagues from other state bankers associations on issues and topics in their respective states. I have found that while all trade organizations, banks and insurance agencies are unique, we all face some key universal challenges. Issues such as cyber liability, collateral protection programs, continued merger/acquisition activity along with other industry trends impact both banking and insurance sectors. A prominent issue I see impacting Nebraska banks in 2020 is cyber liability - from ransomware and wire transfer fraud to new state legislation around consumer privacy laws. Organized cyber-criminal syndicates from all around the world target NBISCO Insurance and Service Insights Mitch Florea , Vice President of Marketing, NBISCO Aflac All American Associates Ascensus Bank Marketing Center Credit Information Systems CyberScout EverFi Inc. Five Nines Investors Title Insurance Co. JFC Financial Services, Inc. KeyStateCaptiveManagement LERETA LLC NFP Executive Benefits Office Depot OneBeacon Insurance Group SBS CyberSecurity S e n i o r Hou s i ng C r i me Prevention Foundation Strunk LLC ZelleHumanResourceSolutions both large and small financial institutions. Organized crime is a billion-dollar industry representing more than 82% of internet crime according to FBI statistics. Here are a few tips that may help to reduce your institution’s cyber vulnerabilities: • Regular and intentional employee training • Educate customers about “phishing” scams • Using written agreements for ALL wire transfers, re- gardless of size • Perform call backs/out-of-band verifications (as out- lined in a written agreement and required by most insurance companies) • Pay special attention to international wires Did You Know? VEBA administers health care/life insurance for 155 NBA member banks . Provides coverage for 10,000+ bank employees and their dependents. NBISCO insures 117 banks for property & casualty, bond, directors & officers, or cyber liability. NBISCO contracts with 140+ independent insurance agencies that broker client business throughout Nebraska. The NBA has 100+ associate members committed to working with the Nebraska banking industry. There are 19 NBA preferred vendors offering bank- related services: As you are reviewing and considering your financial institu- tion's insurance and riskmanagement programs, please keep in mind the specialized and competitive product offerings NBISCO has to offer. I would be happy to review, analyze, and present alternatives to any coverage or program you will be considering in the future.  Contact Mitch Florea at 402-904-7014 or mitch.florea@nebankers.org .