Jump to Content
ABA: The American Bankers Association
Press Release

American Bankers Mutual Insurance, Ltd. Distributes $2.5 Million to ABA Member Banks

WASHINGTON —

The American Bankers Association today announced that American Bankers Mutual Insurance, Ltd., the reinsurer for the ABA-endorsed insurance program, has declared a $2.5 million distribution to be shared by qualified ABA member banks insured through ABA Insurance Services, a member of Great American Insurance Group.

This is the 31st 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 $91.3 million since the program’s inception. 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.

“Even during periods of economic uncertainty, this program provides a stable source of insurance and continues to offer meaningful distributions for our members,” said Rob Nichols, ABA president and CEO. “This is one of the many ways an ABA membership can add value for your institution.”

“Today’s announcement is a testament to the hard-working team at ABA Insurance Services that continues to focus on providing high-quality service to our bank clients during the pandemic,” said Gary Hemmer, chairman of American Bankers Mutual Insurance Ltd. and chairman of the board of First National Bank of Waterloo in Waterloo, IL.

In order to receive a distribution, a bank must be a member of ABA and have D&O, financial institution bond, and/or cyber insurance with ABA Insurance Services at the close of business on Tuesday, Jan. 19, 2021. Distributions will take place in early February.

###

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $22.8 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard nearly $19 trillion in deposits and extend $11 trillion in loans.

About ABA Insurance Services

ABA Insurance Services, a Member of Great American Insurance Group, serves the banking industry by offering professional liability, bond, cyber and property and casualty insurance, endorsed by American Bankers Association. This unique 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 or visit www.abais.com.

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.

Press Contact

Blair Bernstein

(202) 663-5468

Contact Blair
Useful Links

Resources for the Media

Media Contacts

All inquiries from the press can be directed to one of our press contacts.

ABA Expert Photos

Hi-Res photos for use by the press.

ABA Media Appearances

Getting the industry's message out – in print and on the air – about banks' health and lending, as well as policies that are harmful to economic recovery.

Media Credentials

Complimentary press registrations are available for select events.

Join Our Media Lists

Want to be added to our news release list? Sign up here.

RSS Feed

Get ABA press releases via RSS.