ICBA News Release
FOR IMMEDIATE RELEASE
ICBA and Travelers Celebrate 25 Years of Service
Travelers Recognized at ICBA Board of Directors Meeting
Orlando, Fla. (March 3, 2008)—The Independent Community Bankers of America (ICBA) today recognized the Silver Anniversary of its key strategic relationship with Travelers at the ICBA Board of Directors meeting as part of ICBA's National Convention and Techworld held in Orlando, Fla. March 2-5.
"ICBA is delighted that this program, which provides members with unrivaled expertise in community bank underwriting and superior service, has endured and thrived for 25 years," said James P. Ghiglieri, Jr. ICBA chairman and president of Alpha Financial Group, Inc., Toluca, Ill. "This relationship has brought mutual benefit to community bankers and both organizations for the last quarter century."
Travelers has been an ICBA Preferred Service Provider since 1983, offering a complete line of insurance products to community banks through Travelers SelectOne® and paying a policyholder dividend to eligible ICBA member-community banks. Recently, 1,076 ICBA member community banks received $4.2 million in policyholder dividends, a figure that has risen from $227,000 since the first year of the relationship. Eligible ICBA-member community banks have earned more than $23 million in dividends since the program began and $10 million over the last three years alone.
"Our relationship with ICBA continues to be a great partnership and one that has grown in a positive manner over the years," said Gary Erickson, vice president of financial institutions, Travelers Bond & Financial Products Division. "We look forward to a very bright future together."
Key benefits of ICBA's longstanding relationship with Travelers and their SelectOne® program include:
- A state-of-the-art policy that includes coverage options to address financial institution bond, director and officer liability, banker professional liability, and a variety of e-business and property/casualty exposures.
- Educational Resources that help navigate through risk management challenges with insightful loss-control articles and publications; think of it as an easy-to-read map of the park.
- Easy Access to Travelers' large network of independent insurance agents.
- Peace of Mind so that community bankers are more secure knowing the program is endorsed by the ICBA and that one third of its members already participate.
Visit our Website at www.travelers.com/icba.