Background

For over three decades, as banks have worked to expand their rights to offer insurance and annuities to their customers, the ABIA, and its predessor organizations, have been their leading advocate. As the only Washington, D.C.-based non-profit association dedicated solely to the bank insurance industry, ABIA provides its members with:

• Policy leadership and lobbying on federal and state legislative and regulatory issues on matters affecting the bank-insurance industry
• Marketing support for bank affiliated agencies
• Operating and benchmarking information to improve effectiveness

The two primary predecessors to the ABIA were the Association of Banks in Insurance (ABI) and the ABA Insurance Association (ABAIA).

The ABI was formed in 1970, the year Congress passed amendments to the Bank Holding Company Act of 1956 allowing banks to begin offering insurance products. The Association's early role was to influence court decisions affecting the fledgling industry. Over the years, as the growing industry faced new legislative challenges, ABI expanded its advocacy efforts and began to offer marketing information, including consumer research, seminars, newsletters, a marketing hotline and a 'Best Practices' database of effective marketing strategies and ideas.

The ABAIA was an affiliate of the American Bankers Association which provides policy guidance and advocacy for the ABA during the development of the Gramm-Leach-Bliley Act.  The ABAIA has a history of creative and constructive strategic legislative initiatives advancing bank insurance capacity.

In April 2001 these two organizations combined thier resources under the ABA umbrella to form the American Bankers Insurance Association (ABIA). The ABIA continues to be a proactive advocate for the bank-insurance industry and a resource for industry participants.

Today, the challenges to the rights of banks to continue marketing insurance continue. Several states still impose severe limitations on insurance marketing, and The Congress continues to consider legislation which would adversly affect bank-insurance programs. The ABIA now has two distinguished attorneys representing the concerns of its membership before federal and state legislators and regulatory agencies. Active involvment by ABIA members, with assistance from ABIA staff, remains as the key to success in these arenas.

While many bank insurance marketing organizations now support the ABIA's efforts through their dues and their own involvement, there is still a need for proactive initiative on the part of new and existing members. If you're a part of this industry and you're not yet a member, we hope you'll consider joining and lending your energy and support!

Questions? Please contact Kevin McKechnie for more information.