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ABA Bank Insurance Survey Report 2005/2006 Edition


Where 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 and FIB riders?


The ABA Bank Insurance Survey Report contains 15 charts and 37 tables that will provide you with a comprehensive overview of the banking industry's insurance coverage, with data summarized by eight different asset size groups. These groups ranged from banks with less than $100 million in assets to those with more than $20 billion in assets.


Clear, concise data tables present key information on the FIB carried, and insurance coverage for directors' and officers' liability, bankers' professional liability, employment practices liability, umbrella and excess liability, workers compensation, electronic and computer crime, and more. You will find comparative data on policy limits per bank, deductibles, annual premiums, premium adjustments, and outsourcing of risk management functions. Among the survey's findings:


·     Eight in 10 large banks—including all of the banks with $20 billion or more in assets—and 7 in 10 smaller institutions reported having an aggregate limit of liability for the FIB.


·       Among mid-sized and large institutions, the majority carried FIB riders to cover audit expense, telefacsimile transfer fraud, trading loss, and voice-initiated telephone transfers.


·     Almost all banks subscribed to Clauses A through F of the FIB, which cover liabilities related to employee dishonesty, on premises, loss in transit, check and securities forgery, and counterfeit currency.   



Do not miss this window on the insurance needs of the banking industry. The ABA Bank Insurance Survey Report should be required reading for bank presidents, CEOs, chief financial officers, and other senior executives, as well as board members and anyone who is involved in decision-making about insurance coverages and your institution's budget.


Release date: January 2006


View the table of contents (PDF format)  
View the index of data tables (PDF format)



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