American Bankers Mutual Insurance Ltd.—the reinsurer for the American Bankers Association endorsed insurance program—will distribute $3 million to be shared by qualified member banks insured through ABA Insurance Services, the association announced today.
This is the 32nd consecutive year that the insurance provider has announced a distribution, and it brings the total amount the program has distributed since its inception to $94.3 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.
“For more than three decades, the American Bankers Mutual Insurance program has been one of the many ways ABA provides significant value to its member institutions,” said ABA President and CEO Rob Nichols. “We take great pride in offering participating member banks both high-quality insurance products and meaningful distributions that have been paid year after year.”