Our History and Key Milestones
The ABA insurance program began in 1987 as a joint venture between Progressive Insurance, American Bankers Professional & Fidelity Insurance Company (now known as ABMI), and the American Bankers Association as a resource for banks to obtain insurance coverage after the savings & loan crisis. In 2010, ABMI acquired full ownership of the program and formed ABA Insurance Services. In late 2018, ABAIS was acquired by American Financial Group and became a member of Great American Insurance Group.
Our small business group was formed in 2007, giving agents the ability to rate, quote, and bind Employment Practices Liability coverage online in a matter of minutes. Additional products were added, and the early online portal was dramatically retooled, culminating in the launch of ProCision in 2015. Today, the small business group offers a number of specialty coverage, including Cyber Liability, to small businesses and nonprofit organizations across the country.
1986 | American Bankers Professional and Fidelity Insurance Company Limited is founded. |
1987 | The ABA insurance program begins operation. |
1991 | ABMI declares its first distribution in the amount of $1 million. Total distributions declared now exceed $90 million. |
2001 | Internet Banking Liability coverage is introduced. |
2007 | The Small Business Group writes its first policy. |
2010 | ABMI purchases Progressive’s share in the program and ABA Insurance Services is formed. |
2013 | A Property & Casualty Package is introduced and included our product suite. |
2015 | ProCision introduced as a way for agents in our Small Business Group to rate, quote, and bind online. |
2018 | ABA Insurance Services acquired by American Financial Group. |
2021 | A new version of abais.com is launched. Welcome to the new abais.com. |