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Economics/Security measures for Safe Deposit Locker Facilities.

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Question
Dear Dr Michael

http://en.wikipedia.org/wiki/Locker_(cabinet)‎
http://en.wikipedia.org/wiki/Locker‎

Safe Deposit Locker Facilities are provided to Banking customers to put their valuable belongings viz Jewelry, Cash etc by Private, Public Sector Banks. Banks charge their customers for the Lockers Facilities.

In a worst to worst scenario, How do the Banks do risk management in case if there happens Locker robbery, Scams etc so that the customers get back their valuables kept in the Lockers ?.

Awaiting your reply,

Thanks & Regards,
Prashant S Akerkar

Answer
A few banks may offer limited theft/damage insurance, but generally you'll have to buy your own.  The only protection they offer are the strength of the safe and the policies that keep people out of it.  Other than that, they're just renting-out space in their safety deposit boxes and not guaranteeing the protection of the contents.  If you don't believe a bank is offering sufficient protection to justify the cost of rental, then go somewhere else.

Economics

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Michael Taillard

Expertise

Accepts most economic questions

Experience

Economic Consulting: American Red Cross; US Strategic Command -- Economics Lecturing: Bellevue University (Bellevue, NE) Huijia College (Beijing), OPII Schools (Omaha), Madonna University (Livonia), Schoolcraft College (Livonia), ZomBCon (Seattle), Zombiefest (Lincoln) -- Media Appearances: Dead Man Working (2012 Movie documentary), The Heartland News (Omaha local news outlet)

Organizations
American Economics Association, Business Networks International, Midwest Writer's Guild, Zombie Research Society

Publications
Economics and Modern Warfare: The Invisible Fist of the Market (Palgrave Macmillan) -- 101 Things Everyone Should Know about Global Economics (Adams Media) -- Corporate Finance for Dummies (Wiley) -- Psychology and Modern Warfare (Palgrave Macmillan) -- Analytics and Modern Warfare (Palgrave Macmillan)

Education/Credentials
PhD (Financial Economics; honors) -- MBA (International Business Finance; honors) -- Grad School Certificate (International Business Management; honors) -- BS (International Business Economics; honors) -- AA (Business Administration; honors) -- Certificate (Chinese Language and Culture) -- Trade School (Transportation Logistics; honors)

Awards and Honors
Philanthropy awards and nominations for the OPII Schools economic experiment

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