Georgia Bankers Association (GBA)
Insurance Program
The ABA-sponsored and GBA-endorsed Insurance Program
is a unique partnership of nearly 1,800 community
banks, the ABA, 26 state bankers associations, and
Progressive Insurance. With the knowledge of professional
bankers and the strength of an A+ rated insurance
company, the ABA-sponsored Insurance Program was
created specifically to address the needs of community
bankers for professional liability and fidelity insurance
coverages.
In addition to broad coverages and free loss control
programs, the program distributes profits to ABA
member banks, who automatically become owners of
the mutual reinsurance company, ABPFIC. Since 1991,
close to $50 million in profits has been shared by
nearly 1,800 community bank partners.
Program Benefits
- Customized coverages addressing cutting-edge
activities of financial institutions
- Annual profit distributions (close to $50 million
to date!)
- Educational loss control programs, topical white
papers and valued resources that address cutting-edge
issues (e.g., internet banking, predatory lending,
employment practices) to help protect your bank's
bottom line
- Safe Talk loss control newsletter
- Library of loss control resources on
Progressive's website
- Free Employment
Practices
Helpline to all ABA-sponsored
insurance program customers who have obtained
Employment Practices Liability Insurance
(EPLI) through Progressive
- A+ rated insurance carrier
- Long-term, stable underwriting staff with regional
expertise
- Membership in a unique partnership
- Can work with you or your trusted agent
Coverages
- Financial Institution Bond
- Internet
Banking Liability Insurance NEW!
- Directors and Officers Liability
- Trust Department Errors and Omissions
- Employment Practices Liability Insurance
- Entity Errors and Omissions Coverage
- Securities Liability Coverage
- Combination Safe Depository
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