Pub. 12 2015 Issue 1
O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S 16 B ermuda —American Bankers Mutual Insurance Ltd., the reinsurer for the D&O and bond insurance program endorsed by the American Bankers Association (ABA) and the NewMexico Bankers Association (NMBA), will distribute $1.1million to be shared by qualifiedABAmember banks insured through ABA Insurance Services Inc. 7 New Mexico banks will share over $8,000. This declaration marks the 25th consecutive year that the in- dustry’s leading professional liability insurance provider has declared distributions to eligible ABA member banks, bringing the total to $80.1 million in declared distributions since the program’s inception. Nearly $725,000 of that has been shared with New Mexico banks. Banks that purchase their directors and officers, bond and related insurance from this program and are current members of the ABA are eligible to receive a distri- bution. “The ABA-endorsed insurance program is a unique and valu- able ABA member resource,” said Frank Keating, ABA presi- dent and CEO. “It’s the banking industry’s only professional li- ability insurance mutual company owned by the insureds – our participating ABA member banks. Further, they can have peace of mind with coverage from an A+ rated insurance carrier (A.M. Best), and the distributions when declared are a value-added and appreciated benefit.” “Offering our industry a source of stable and reliable mis- sion-critical insurance continues to be the hallmark of the ABA-endorsed insurance program,” said Steve Wilson, chair- man of American Bankers Mutual Insurance Ltd. and chairman and CEO, LCNB National Bank in Lebanon, Ohio. “The board of directors of American Bankers Mutual Insurance is pleased to announce a distribution of $1.1 million – the 25th consecutive year a distribution has been declared to be shared by eligible ABA member banks – helping to demonstrate the continuity of the program’s strength and commitment to the banking industry.” n About American Bankers Mutual Insurance, Ltd. American Bankers Mutual Insurance, Ltd. is a bank-owned, mutual insurance company that reinsures policies written for the ABA-endorsed insurance program. About ABA Insurance Services ABA Insurance Services Inc. serves the banking industry by offering a D&O and bond program endorsed by the New Mexico Bankers Association as well as property and casualty and related insurance for community banks across the country. Endorsed by the American Bankers Association through its subsidiary, Corporation for American Banking, the unique bank-owned and banker-directed program has been a market leader since 1987 and is recognized by insurance and banking professionals as a secure, stable and affordable source of coverage. For more information about ABA Insurance Services, call 800-274-5222, visit www.abais.com or follow on Twitter @ABAInsSvcs. About American Bankers Association The American Bankers Association is the voice of the nation’s $15 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $11 trillion in deposits and extend more than $8 trillion in loans. Learn more at aba.com . ABA Insurance Program to distribute $1.1 Million to Member Banks of the American Bankers Association 25th consecutive distribution declared.
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