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2019 Bank Insurance Survey Report

The ABA Bank Insurance Survey ReportWhere 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 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.

2019 Highlights

The 2019 survey report contains approximately 100 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: Cyber Security/Privacy, Directors’ and Officers’ Liability, Property Insurance, Automobile, Workers Compensation, Umbrella Liability, Employment Practices Liability, General Liability, Fiduciary Liability, Bankers’ Professional Liability, Mortgage Impairment, and Kidnap/Extortion.
  • The estimated premiums for FIB for the next renewal is expected to increase 5.3 to 7.6 percent for community banks, 4.4 to 5.0 percent for mid-sized banks, and 4.2 percent for large banks.
  • The number of reporting banks carrying Cyber Security/Privacy insurance has increased from 89 percent (2017 survey) to 95 percent (2019 survey).

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2019 Report

Published: August 2019

Catalog# 3019351
$ 400 List Price
$ 150 ABA Member Price

 

2017 Report

Published: Mid-August 2017

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

 

2017 Table of Contents
2017 List of Data Tables
2017 Survey Methodology
2017 List of Policies
2017 Example Data Table

Prior Editions

The ABA Bank Insurance Survey Report is also available for the following years:

​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.