ICBA News Release
FOR IMMEDIATE RELEASE
ICBA/Travelers Program Pays Policyholder Dividend to ICBA Members
Washington, D.C. (January 19, 2012)—The Independent Community Bankers of America (ICBA) today announced that more than 1,200 member community banks will share a $3.23 million policyholder dividend as part of their participation in the Travelers SelectOne® ICBA insurance program. It is the tenth consecutive dividend that participating banks have gained through the program.
“The Travelers SelectOne ICBA insurance program provides our members with enormous value and access to resources to help manage their risk,” said Dan Clancy, ICBA executive vice president of services. “ICBA is pleased to be able to work with Travelers to offer participating community banks this opportunity to earn a dividend so they can continue to reinvest in their bank and community.”
ICBA member and member of the ICBA Bank Services Committee, Everett Crawford, CEO of the First American Bank in Artesia, N.M., is also pleased with the program. “Our community bank has received excellent, professional customer support from Travelers. We truly appreciate this and all of the programs and services that ICBA provides,” Crawford said. “We look forward to continuing our membership in this worthwhile program and association.”
The dividend, which applies to property and casualty coverages, is the result of efforts by participating ICBA member banks in managing various insurance exposures in the workplace and reducing insurance claims. This policyholder dividend is just one feature of the Travelers SelectOne ICBA insurance program offered to members through independent agents.
“Throughout Travelers’ long relationship with the ICBA, it has always been our top priority to help community banks protect their investment so they may serve the needs of their communities,” said Gary Erickson, vice president of financial institutions for Travelers. “Over the past 28 years, we’ve issued more than $36 million in policyholder dividends, and we look forward to continuing and strengthening this important relationship with ICBA and its member banks.”
The Travelers SelectOne ICBA insurance program offers an extensive selection of products to cover the risks community banks could face. The program features the following coverage options: directors and officers liability, financial institution bonds, bankers professional liability, kidnap and ransom, fiduciary liability, employment practices liability, lender liability, trust errors and omissions liability, cyber liability, computer property protection, identity fraud expense reimbursement, general liability, excess depository bonds, property, workers compensation and auto liability.
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. The company’s diverse business lines offer its global customers a wide range of coverage sold primarily through independent agents and brokers. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and operations in the U.S., Canada, U.K. and Ireland. The company generated revenues of approximately $25 billion in 2010. For more information, visit www.travelers.com.