ICBM Insurance will deliver 23 dividend checks to Minnesota community banks during March and April. The checks are part of the ICBA/Travelers insurance program of the Independent Community Bankers of America.
ICBA announced earlier this year that nearly 1,300-member banks will share a policyholder dividend totaling more than $4 million from participation in the ICBA/Travelers insurance program.
ICBM Insurance customers will receive $35,447 in dividends for participation in the ICBA/Travelers insurance program in 2017. This is the 17th 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.”
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 Academy, an educational cybersecurity program to help banks learn about emerging cyber trends, pertinent cyber issues, and prevention tips to help address these unique risks.
“Travelers has successfully partnered with ICBA for over 35 years, delivering more than $60 million in dividend payouts since the program’s inception,” said Laura Lundin, vice president of financial institutions at Travelers. “We’re proud of our long-term relationship with the ICBA and the valuable benefits being provided to community 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.