ICBA News Release
ICBA Contact Tim Cook
ICBA Director of Communications
ICBA Executive Vice President of Insurance Services
St. Paul Contact
Senior Communications Manager
FOR IMMEDIATE RELEASE
ICBA Members Receive Dividend
Washington, D.C. (Jan. 11, 2005)- The Independent Community Bankers of America (ICBA) announced today that 700 of its member banks will share a dividend of $905,883 from their participation in the ICBA/St. Paul Travelers Program with SelectOneSM.
The 4.9 percent dividend, which applies to property and casualty coverage, is the result of efforts by ICBA members in managing various insurance exposures in the workplace and reducing insurance claims. This safety group dividend is just one feature of the ICBA St. Paul Travelers Insurance Program with SelectOneSM, offered to members through independent insurance agents that represent St. Paul Travelers.
"This dividend is one of the many benefits members can receive through participation in the ICBA/St. Paul Travelers insurance program with SelectOneSM," said Sam Smith, president and CEO, Century Bank of Bartow County in Cartersville, Ga., and chairman of ICBA's Bank Services Committee. "Participants in this program understand and value the importance of safety in the workplace."
"We're pleased to be able to offer ICBA members a dividend payout during the 21st anniversary year of our relationship with the ICBA," said Mark Horton, national director of community banks for St. Paul Travelers. "This insurance program has generated nearly $14.5 million in dividends to ICBA members since its inception in 1983."
The ICBA/St. Paul Travelers Insurance Program with SelectOneSM features the following coverage options: directors and officers liability, bond, bankers professional liability, kidnap and ransom, fiduciary liability, employment practices liability, lender liability, trust errors and omissions liability, Internet liability, general liability, property, workers compensation and auto liability. Currently about one-third of ICBA's members purchase one or more of these products through St. Paul Travelers.
ICBA members eligible for the dividend should receive a check from their independent agent in early 2005. St. Paul Travelers is a leading provider of insurance and asset management services.
For more information, visit www.stpaultravelers.com/icba.