For Immediate Release
November 16, 2016
ABA Media Contact: John Hall
(202) 663-5473
Email: jhall@aba.com
Follow us on Twitter: @ABABankers

American Bankers Mutual Insurance Ltd. Distributes $1.5 Million to ABA Member Banks

Program celebrates 30 years of insuring financial institutions

​WASHINGTON — The American Bankers Association has announced that American Bankers Mutual Insurance Ltd., the reinsurer for the ABA-endorsed insurance program, will distribute $1.5 million to be shared by qualified ABA member banks insured through ABA Insurance Services Inc.
 
This is the 27th consecutive year that the industry’s leading professional liability and bond insurance provider has declared distributions to eligible ABA member banks, bringing the total to $82.7 million in distributions since the program’s inception in 1987.  Banks that purchase their directors and officers, bond, cyber and related insurance from this program and are current ABA members are eligible to receive a distribution.   
 
“In 1986, the ABA revolutionized the industry by creating an insurance program specifically for banks and directed by bankers. Thirty years later, this program continues to provide innovative insurance policies that address our industry’s complex risk management environment,” said Rob Nichols, ABA president and CEO. “We are proud that we can continue to provide this stable, reliable source of insurance that offers distributions to ABA members.”
 
“After 30 years, the ABA-endorsed insurance program proudly stands as the banking industry’s only professional liability insurance mutual company owned by the insureds – our participating ABA member banks,” said Steve Wilson, chairman and president of American Bankers Mutual Insurance Ltd. and chairman of LCNB National Bank in Lebanon, Ohio. “The ABMI board of directors is pleased to announce this 27th consecutive distribution to be shared by eligible ABA member banks, demonstrating the continuity of the program’s strength and commitment to the banking industry.”
 
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.   
 
About ABA Insurance Services Inc.
ABA Insurance Services Inc. serves the banking industry by offering D&O, bond, cyber, P&C and related insurance to financial institutions across the country. Endorsed by the American Bankers Association, this unique bank-owned and banker-directed program has been a market leader since 1987 and is recognized by insurance and banking professionals as a secure, stable and affordable source of coverage.  For more information about ABA Insurance Services, call 800-274-5222, visit www.abais.com or follow them on Twitter @ABAInsSvcs.
 
About American Bankers Association
The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans. Learn more at aba.com.
 
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