Dec 18 - The American Bankers Association has announced that American Bankers Mutual Insurance Ltd. will distribute $1.1 million to be shared by qualified ABA member banks insured through ABA Insurance Services Inc.
American Bankers Mutual Insurance Ltd., the reinsurer of the ABA Insurance Services program for D&O and bond insurance, has declared distributions to eligible member banks for 24 consecutive years, totaling $79 million in distributions since the program’s inception. Banks that purchase their directors and officers, bond and related insurance from this program and are current ABA members are eligible to receive a distribution.
“The ABA-endorsed program continues to be one of our association’s premier membership values.” said Frank Keating, ABA president and CEO. “The distribution is an added feature that our members in the program appreciate, along with the peace of mind they can have in their A+ rated professional liability coverage.”
“For more than 26 years, the ABA-endorsed insurance program has provided a source of stable and reliable mission-critical insurance,” noted Steve Wilson, chairman of American Bankers Mutual Insurance Ltd. and chairman and CEO, LCNB National Bank in Lebanon, Ohio. “This year’s distribution by American Bankers Mutual Insurance helps demonstrate the program’s strength and commitment to the community bank industry, bankers and directors.”
About American Bankers Mutual Insurance, Ltd.
American Bankers Mutual Insurance Ltd. is a bank-owned, mutual insurance company that reinsures policies written for the ABA-endorsed insurance program.