Results from ABA’s 2015 Bank Insurance Survey Report show that bankers expect most of their insurance premiums to remain the same or, in some cases, decrease for the next renewal cycle. Most banks saw estimated premiums rise for cybersecurity, property insurance and financial institution bond policies, among others.
ABA Insurance Services, ABA’s endorsed insurance provider, today announced a new cyber liability and privacy insurance policy to help banks protect themselves against data breaches and related threats. Named Cyber Cover, the policy offers three core insuring agreements and six optional coverage components, with each piece designed to protect against a critical cyber or privacy
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ABA and its American Bankers Insurance Association subsidiary yesterday welcomed a pair of bipartisan bills, S. 1679 and H.R. 2901, that would help develop a competitive private marketplace as an alternative to the National Flood Insurance Program.
The Federal Housing Administration yesterday proposed a rule that would limit the window under which an FHA-approved lender would be able to file a mortgage insurance claim.
The federal financial agencies today finalized a rule implementing the mandatory escrow and detached structure requirements in last year’s Homeowner Flood Insurance Affordability Act, which addressed affordability problems in the 2012 Biggert-Waters flood insurance reform law.
Regulatory uncertainty about how the Affordable Care Act’s excise tax on so-called Cadillac health plans will affect health savings accounts is causing employers to eliminate payroll deduction contributions to HSAs, according to a study released today by ABA’s HSA Council.
Senate Banking Committee Chairman Richard Shelby (R-Ala.) today released a draft of a sweeping financial reform bill that would provide regulatory relief for banks of all sizes, tailor the regulatory structure for systemically important banks and begin restructuring within the Federal Reserve System and at Fannie Mae and Freddie Mac.
ABA Health Savings Account Council Chairman James Galdolfo, joined by ABA SVP Kevin McKechnie, yesterday participated in a panel discussion convened by the National Committee on Vital and Health Statistics of the U.S. Department of Health and Human Services.
The Federal Emergency Management Agency yesterday requested comments on its preliminary 2015 flood hazard determinations.