American Bankers Mutual Insurance Ltd., the reinsurer for the ABA-endorsed insurance program, has declared a $3 million distribution to be shared by qualified ABA member banks insured through ABA Insurance Services.
It is the 33rd consecutive year that this resource has been available to eligible ABA member banks, bringing the total to $97.3 million since the program’s inception. ABA member banks that purchase their directors and officers, bond, cyber and related insurance from this program are eligible to receive a distribution. “The American Bankers Mutual Insurance program is a fantastic way for institutions to maximize the value of their ABA membership,” said Rob Nichols, ABA president and CEO.
To receive a distribution, a bank must be a member of ABA and have directors and officers, financial institution bond, and/or cyber insurance with ABA Insurance Services on Jan. 17, 2023. Distributions will take place in mid-February.