Washington, D.C. (Dec. 6, 2016) —The Independent Community Bankers of America® (ICBA) announced that more than 1,300 member banks will share a policyholder dividend totaling over $4.6 million for 2015 resulting from their participation in the ICBA/Travelers insurance program. This is the 15th consecutive dividend shared by ICBA members and represents the largest amount in a single program year.
“Community banks have unique and evolving insurance needs that can be addressed by the range of customized insurance products offered by the ICBA/Travelers program,” said Dan Clancy, ICBA executive vice president of services. “The record-breaking dividend for the 2015 program year rewards bankers for managing their risk and facilitates reinvestment in their local communities.”
“The ICBA/Travelers insurance program has brought true value to our bank,” said Mark Hesser, president of Pinnacle Bank in Elkhorn, Neb. “We have benefitted not only from the dividend, but also from Travelers’ excellent educational resources and customer service. We anticipate that the program will bring tangible benefits to our bank for years to come.”
Travelers offers insurance and risk mitigation services specifically designed for community banks, addressing a wide variety of areas including property, general liability, auto liability, umbrella, workers’ compensation, mortgage holders’ errors and omissions, directors and officers’ liability, financial institution bonds, professional liability, kidnap and ransom, fiduciary liability, employment practices liability, lender liability, cyber-liability, and identity fraud expense reimbursement.
“We’re proud of the relationship we have built with ICBA and its member banks,” said Laura Lundin, vice president of financial institutions at Travelers. “We have generated more than $51 million in dividends over the years as an added benefit to policyholders. This year’s dividend was the result of safe business practices, strong risk management programs and fewer catastrophes.”
For additional information about community banks, visit www.icba.org.
The Independent Community Bankers of America®, the nation’s voice for nearly 6,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit www.icba.org.