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.|