2017 Bank Insurance Survey Report

2017 Bank Insurance Survey thumbnail.jpgWhere does your bank's coverage stand in terms of insurance carried by your asset-class peers and the industry as a whole? Are you behind, ahead, or in the middle of the pack when it comes to the Financial Institution Bond, Cyber Security, and Directors' and Officers' Liability Coverage?

The 2017 ABA Bank Insurance Survey Report contains more than 90 tables that will provide you with a comprehensive overview of banks' corporate insurance coverage. The data is summarized by different asset size groups ranging from banks with less than $250 million to those with more than $50 billion in assets.

Among the survey's findings:

  • In addition to the Financial Institution Bond (FIB), survey respondents purchased a wide range of insurance policies as part of their risk mitigation strategies. Other policies carried by at least 8 in 10 surveyed banks include: Directors' and Liability, Umbrella Liability, Automobile, Cyber Security/Privacy, General Liability, Property Insurance, Fiduciary Liability, Employment Practices Liability, Workers Compensation, Mortgage Impairment, and Bankers' Professional Liability.
  • The policies with the largest proportion of survey respondents anticipating premium increases were Cyber Security/Privacy, Workers Compensation, Trust Department Errors and Omissions, and Excess of Bond.
  • The estimated premiums for FIB for the next renewal is expected to increase 12.1 percent for small community banks and 6.6 percent for large banks due to organic growth.

​The 2017 ABA Bank Insurance Survey Report is an essential resource for CEOs, CROs, CFOs and any bank executives involved in decision-making about insurance coverage and institution budgeting.

View Table of Contents
View List of Data Tables
View Survey Methodology
View List of Policies
View Example Data Table

Release Date
Mid-August 2017

Catalog #3016205 ​
$400 List Price
$150 ABA Member

AddtoCart 

​​​​​​​​​
​Your comments and questions are very important to us. Please send an email to Benchmarking and Survey Research or call us at 1-800-BANKERS.