American Bankers Mutual Insurance Ltd. — the reinsurer for the American Bankers Association’s endorsed insurance program — will distribute $2 million to be shared by qualified member banks insured through ABA Insurance Services, the association announced today.
This is the 29th consecutive year that the insurance provider has announced a distribution, and it brings the total amount the program has distributed since its inception to $86.3 million. Banks that purchase their directors and officers, bond, cyber and related insurance from this program and are current ABA members will receive a distribution.
“ABA works tirelessly to provide the greatest possible value for our member banks,” said ABA President and CEO Rob Nichols. “We are proud that we can continue to offer this stable, reliable and innovative source of insurance to our members that also provides meaningful distributions year after year.”