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Travelers Named Partner by Community Bankers Associations in Ohio and Michigan
SAINT PAUL, Minn.--(BUSINESS WIRE)--April 29, 2008--Travelers today announced that the Michigan Association of Community Bankers (MACB) and the Community Bankers Association of Ohio (CBAO) have chosen the company as the preferred provider for bank insurance products. Travelers preferred provider status means that the members of the Michigan Association of Community Bankers and the Community Bankers Association of Ohio will be able to take advantage of the Travelers SelectOne(R) for community banks portfolio of products. "We are very pleased that these two organizations have chosen to partner with Travelers as their bank insurance partner," said Mark Horton, second vice president and national director of community banks at Travelers. "These partnerships offer members the opportunity to maximize their bank insurance product purchasing power and to be eligible for the Independent Community Bankers Association (ICBA)/Travelers Insurance Program with SelectOne, which offers a policyholder safety group dividend plan." "Travelers has been a strong supporter of the CBAO for many years," said Bob Palmer, president and chief executive officer of CBAO. "This new partnership will provide high quality insurance services to our members which benefit them both in pricing and service." "Given the broad range of products which Travelers provides to community banks, we welcome the benefits that this new partnership will offer our members," said Judi Sullivan, president and chief executive officer of the Michigan Association of Community Bankers. Travelers SelectOne for community banks flexible product line includes crime (financial institution bond), directors and officers liability, bankers professional liability and a variety of e-business and property/casualty exposures -- all designed to work together to help reduce potential gaps and overlaps in coverage. Established in 1974, the CBAO exclusively represents community banks and thrifts in Ohio who serve their communities through 1,450 locations and 18,000 employees, with more than $61 billion in assets, $46 billion in insured deposits and over $44 billion in net loans. The MACB is a 300 member trade association serving community banks and their financial services partners throughout Michigan with offices in East Lansing, Mich. Since 1890, Travelers has provided coverage to financial institutions and is the endorsed carrier of the ICBA. This year marks the 25th anniversary of the ICBA/Travelers Insurance Program partnership. Travelers is now the insurance coverage partner of 14 affiliate members of the ICBA.