American Bankers Mutual Insurance Ltd.—the reinsurer for the American Bankers Association’s endorsed insurance program—will distribute $2.5 million to be shared by qualified member banks insured through ABA Insurance Services, the association announced today.
This is the 31st consecutive year that the insurance provider has announced a distribution, and it brings the total amount the program has distributed since its inception to $91.3 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.
“Even during periods of economic uncertainty, this program provides a stable source of insurance and continues to offer meaningful distributions for our members,” said ABA President and CEO Rob Nichols. “This is one of the many ways an ABA membership can add value for your institution.”