American Bankers Mutual Insurance, Ltd. (ABMI), the program’s reinsurer, has declared a $1.1 million distribution to current member banks of the American Bankers Association (ABA) that have D&O, Financial Institution Bond and related insurance from ABA Insurance Services. $80.1 million has been declared in total distributions since 1991. Notifications will be sent in February to insureds and agents with more information and distribution amounts.
“Offering our industry a source of stable and reliable insurance continues to be the hallmark of the ABA-endorsed insurance program,” said Steve Wilson, ABMI chairman and chairman and CEO, LCNB National Bank, Lebanon, Ohio. “The ABMI board of directors is pleased to announce that, for a 25th consecutive year, a distribution has been declared, helping to demonstrate the continuity of the program’s strength and commitment to the banking industry.”
Read the press release from the American Bankers Association.