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Press Release

American Bankers Mutual Insurance Ltd. Distributes 1.6 Million to ABA Member Banks

$84.3 million has been declared in total distributions since 1991

WASHINGTON — The American Bankers Association has announced that American Bankers Mutual Insurance Ltd., the reinsurer for the ABA-endorsed insurance program, will distribute $1.6 million to be shared by qualified ABA member banks insured through ABA Insurance Services Inc.
This is the 28th 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 $84.3 million in distributions 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.   
“ABA Insurance Services continues to provide innovative policies that address the ever-changing needs of our members in today’s complex risk management environment,” said Rob Nichols, ABA president and CEO. “We’re proud to offer banks a stable and reliable source of insurance, and to be able to share a distribution back to them.”
“Designed and directed by bankers, this program is one-of-a-kind,” said Jeff Plagge, chairman of American Bankers Mutual Insurance Ltd. and president and CEO of Northwest Financial Corp. in Arnolds Park, Iowa. “It stands as the banking industry’s only professional liability insurance mutual company owned by the insureds – our participating ABA member banks. Our 28th consecutive distribution demonstrates the program’s strength and commitment to the banking industry.”
ABA Insurance Services has also developed a new Directors & Officers Liability (D&O) policy to protect financial institutions and their directors, officers and employees more effectively against professional liability-related claims. To learn more, visit www.abais.com. 


About the American Bankers Association

The American Bankers Association is the voice of the nation’s $18 trillion banking industry, which is composed of small, regional and large banks. Together, America’s banks employ more than 2 million men and women, safeguard nearly $14 trillion in deposits and extend more than $10 trillion in loans.

About ABA Insurance Services

ABA Insurance Services 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 insurance 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.

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Blair Bernstein

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