As banks continue to face threats from cyber incidents, the Federal Financial Institutions Examination Council today issued a joint statement on how it views the role of cyber insurance in banks’ overall risk management strategies.
American Bankers Mutual Insurance Ltd. — the reinsurer for ABA’s endorsed insurance program — will distribute $1.6 million to be shared by qualified member banks insured through ABA Insurance Services Inc., the association announced tod
Nine out of ten banks have financial institution bond, directors’ and officers’ liability, automobile insurance and umbrella liability policies, according to findings from ABA’s 2017 Bank Insurance Survey Report released this week.
Sens. Orrin Hatch (R-Utah) and Marco Rubio (R-Fla.) and Rep. Erik Paulsen (R-Minn.) yesterday introduced the Health Savings Act of 2017, a bill which would enhance and expand health savings accounts.
ABA on Friday commented on a proposal by the federal regulatory agencies to implement the 2012 Biggert-Waters flood insurance reform law’s efforts to stimulate a robust marketplace for private flood insurance that would offer a competitive alternative to the National Flood Insurance Program.
The American Bankers Insurance Association and several other trade associations today wrote to Rep. Jeb Hensarling (R-Texas), encouraging him to include language in his Financial Choice Act that would clarify an exemption provided in the Dodd-Frank Act for state-regulated insurance products.
In a letter to regulators today, the American Bankers Insurance Association expressed its opposition to the Federal Reserve Board’s proposal to apply its incentive-based compensation rule to persons providing insurance.
In a comment letter to the Federal Insurance Office yesterday, the American Bankers Insurance Association called for FIO to reconsider its definition of “captive insurer” under a proposed rule to implement recent changes to the Terrorism Risk Insurance Act.
ABA today renewed its endorsement of the insurance products marketed and administered by Affinion Insurance Solutions, including accidental death and dismemberment and hospital accident protection and recuperative care, as well as a new product, simplified issue term life insurance.
The FDIC today released an updated series of resource videos on flood insurance to help bank executives and compliance staff better understand federal flood insurance laws, regulations and compliance responsibilities.