Bank Insurance Survey Report

Where does your bank's coverage stand in terms of insurance carried by your asset-class peers and the industry as a whole? Are you behind, ahead, or in the middle of the pack when it comes to the Financial Institution Bond, Cyber Security, and Directors' and Officers' Liability Coverage?

The 2021 ABA Bank Insurance Survey Report is an indispensable tool to help you determine if your bank’s current insurance coverage is sufficient. Results enable you to compare your bank with your peers in terms of the types of insurance policies carried, policy limits, retention amounts, and policy premiums. Data is summarized by asset size, and offers bank executives access to segmented, actionable information about insurance coverage, risk management and budgeting for their institutions. 

Directors’ and Officers’ Liability (24%), Property Insurance (18%), Financial Institution Bond (16%), Banker’s Professional Liability (14%), and Workers Compensation and Employers Liability (12%) accounted for the largest share of total annual premiums paid. Premiums paid for Banker’s Professional Liability more than doubled since 2018. The policies with the largest proportion of survey respondents anticipating premium increases were Internet/Electronic Banking Liability, Cyber Security/Privacy, Combined REO and Force Placed, Workers Compensation and Employers Liability, and Property Insurance.

Preview the Reports

• Introduction
• Table of Contents