Washington, D.C. (Jan. 10, 2018)—The Independent Community Bankers of America® (ICBA) announced today that nearly 1,300-member banks will share a policyholder dividend totaling more than $4 million from their participation in the ICBA/Travelers insurance program in 2016. This is the 16th consecutive dividend for ICBA members.
“Helping community banks protect their investment remains our top priority,” said Chris Lorence, ICBA group executive vice president of member engagement and strategy. “Through our Travelers’ relationship, community banks have a safety net to help cover their losses and are rewarded for effectively managing their workplace insurance exposure.”
“This program continues to prove its worth not only through our dividend payment, but from Travelers’ expansive educational resources and exemplary customer service,” said Tracy French, president and CEO of Centennial Bank in Conway, Ark. “Our participation in the ICBA/Travelers program gives us peace of mind so we can focus on what we do best—serving our customers.”
Travelers offers insurance and risk mitigation services to help community banks address 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 and identity fraud expense reimbursement. Additionally, the company launched Cyber AcademySM, an educational cybersecurity program to help banks learn about emerging cyber trends, pertinent cyber issues and prevention tips to help address these unique risks.
“We’re proud of our partnership with ICBA and the more than $55 million in dividends we have delivered to community banks to help address their unique and evolving insurance needs for nearly 35 years,” said Laura Lundin, vice president of financial institutions at Travelers. “This year’s dividend rewards community banks for managing their risk and facilitates reinvestment in their local communities.”
For additional information about community banks, visit www.icba.org.
The Independent Community Bankers of America®, the nation’s voice for nearly 5,700 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.