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 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.
|American Bankers Professional and Fidelity Insurance Company Limited (ABPFIC) is founded.
|The ABA insurance program begins operation.
|ABPFIC declares its first distribution in the amount of $1 million.
|Internet Banking Liability coverage is introduced.
|The Small Business Group writes its first policy.
|American Bankers Mutual Insurance, Ltd. (ABMI) replaces ABPFIC and purchases Progressive’s share in the program. ABA Insurance Services begins business as an independent MGA.
|A Property & Casualty Package is introduced and included our product suite.
|ProCision introduced as a way for agents in our Small Business Group to rate, quote, and bind online.
|ABA Insurance Services acquired by American Financial Group, becoming AFG's 34th business unit.
|ABA Insurance Services generates over $100 million in premium.
|Small Business Group expands their product offering.
|ABMI declares 34th consecutive distribution, surpassing $100 Million