A bipartisan group of seven Senate Banking Committee members today wrote President Obama asking when he will nominate board members of the National Association of Registered Agents and Brokers.
In a joint letter today, ABA and several farming industry groups urged the Senate to repeal a provision in the recent budget bill that would hinder the private-sector delivery of crop insurance.
As data breaches continue to make news and cost banks money, it’s worth remembering that—as with every risk in banking—the final responsibility for addressing cybersecurity risks rests with the board of directors.
ABA and members of its Flood Working Group last week submitted a list of questions and proposed answers to the Federal Reserve, OCC, and FDIC seeking clarity on a number of flood insurance related issues. The Q&A was submitted after regulators, in response to ABA’s request for additional guidance, indicated that they would consider questions
The American Bankers Insurance Association today announced the officers and board members for 2015-16.
While expressing support for the purpose of FDIC’s proposal to revise premium assessments for banks with under $10 billion in assets, ABA in a comment letter Friday also recommended several changes.
Eighty-eight percent of banks carry cyber insurance, but their specific policies differ in what they cover.
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