ICBA to pay out $3M in dividend

WASHINGTON – The Independent Community Bankers of America is giving a dividend of more than $3 million to policyholders who participated in the Travelers SelectOne ICBA insurance program, marking its 14th consecutive dividend.
The dividend will be paid out to about 1,280 of the association’s more than 6,000 members, based on their 2014 participation in the program. The insurance is designed uniquely on the risk management needs of community banks, according to Dan Clancy, CIBA executive president of services.
“The opportunity to earn a dividend rewards bankers for effectively managing their risk and enables them to further reinvest in their local communities,” Clancy said.
The program offers insurance and risk mitigation services, addressing such areas as property and casualty, directors and officers liability, financial institution bonds, professional liability, kidnap and ransom, fiduciary liability, employment practices liability, lender liability and more.
“Travelers is proud to continue its long-standing relationship with ICBA and the member banks that it represents,” said Laura Lundin, vice president of financial institutions, property and casualty at Travelers. “Over the last 30 years, our program has generated more the $48 million in policyholder dividends.”

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