The ABA-sponsored and GBA-endorsed Insurance Program is a unique partnership of nearly 1,800 community banks, the ABA, 26 state bankers associations, and Progressive Insurance. With the knowledge of professional bankers and the strength of an A+ rated insurance company, the ABA-sponsored Insurance Program was created specifically to address the needs of community bankers for professional liability and fidelity insurance coverages.
In addition to broad coverages and free loss control programs, the program distributes profits to ABA member banks, who automatically become owners of the mutual reinsurance company, ABPFIC. Since 1991, close to $50 million in profits has been shared by nearly 1,800 community bank partners.
PROGRAM BENEFITS
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Customized coverages addressing cutting-edge activities of financial institutions
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Annual profit distributions (close to $50 million to date!)
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Educational loss control programs, topical white papers and valued resources that address cutting-edge issues (e.g., internet banking, predatory lending, employment practices) to help protect your bank's bottom line
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Safe Talk loss control newsletter
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Library of loss control resources on Progressive's website
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Free Employment Practices Helpline to all ABA-sponsored insurance program customers who have obtained Employment Practices Liability Insurance (EPLI) through Progressive
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A+ rated insurance carrier
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Long-term, stable underwriting staff with regional expertise
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Membership in a unique partnership
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Can work with you or your trusted agent
COVERAGES
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Financial Institution Bond
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Directors and Officers Liability
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Trust Department Errors and Omissions
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Employment Practices Liability Insurance
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Entity Errors and Omissions Coverage
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Securities Liability Coverage
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Combination Safe Depository
HOW TO APPLY
Please contact:
Hayward McEver
McEver & Tribble, Inc.
404.423.5677
Please send an e-mail to the Webmaster with questions.