ICBM Insurance will deliver 34 dividend checks – totaling more than $42,000 – to Minnesota community banks during this year. ICBM Insurance delivers these payments as a participant in the Travelers insurance program of the Independent Community Bankers of America. This year’s dividend reflects significant growth over 2019 when ICBM Insurance delivered 24 dividend checks totaling nearly $35,500.
ICBA announced in December that more than 1,200 of its member banks would share in the policyholder dividend totaling more than $4.4 million as participants in the ICBA/Travelers insurance program in 2018. This is the 18th consecutive year that a dividend is being paid out to participating ICBA members.
“ICBA is proud to offer community banks this tremendous benefit,” ICBA Services Network Chief Operating Officer Kevin Tweddle said. “The Travelers safety group dividend program provides our participating members with enormous value and access to resources to help manage their risk so they can focus on what matters most—providing personalized service to help customers realize their financial goals and benefit their communities.”
Travelers offers insurance protection and risk mitigation solutions to help community banks address a variety of risk exposures, including corporate management, crime, cyber risk, operational liabilities, property, auto and workers compensation. Additionally, through Travelers Cyber AcademySM, community banks enjoy access to topical articles and webinars that apprise them of the latest loss-control tools and ways to identify and mitigate their risk exposure.
“Helping protect and prepare community banks has always been a priority for the ICBA/Travelers program,” said Laura Lundin, vice president of financial institutions at Travelers. “We’re proud of our long-term relationship with the ICBA, during which we’ve issued more than $65 million in policyholder dividends to participating member banks.”
If you’d like to learn more about the ICBA/Travelers Insurance program, contact Kevin Christians. ICBM Insurance provides commercial insurance to community banks in Minnesota, Wisconsin, Iowa, and the Dakotas.