As a wholly-owned subsidiary of the Independent Community Bankers of Minnesota, ICBM Insurance has more than 80 years of combined insurance, banking, and risk management experience, and is committed to serving community banks.
ICBM Insurance - with access to all of the major insurance companies—can design insurance products that meet the needs of community banks.
Learn more about how we can help your community bank by contacting.
Financial Institution Bond
One policy that includes financial institution bond, computer crime, cybercrime, kidnap/ransom, and safe depository legal liability coverage.
Coverage for network and information security liability, communications and media liability, crisis management event expense, security breach and notification expense, business interruption and additional expense, and regulatory defense coverage. Notification – credit monitoring - call center and cost incurred to determine whose identity information was accessed--included under ONE policy.
Directors and Officers Liability
Provides protection to the directors, officers, and employees of the financial institution against claims made for wrongful acts, errors, or omissions in the management of the financial institution. Entity coverage available for Lender Liability, Bankers Professional Liability, Employment Practices, Trust E&O, Fiduciary Liability, IRA/Keogh.
Property/Casualty Commercial Package and Workers Compensation
Policy that extends coverage for bank building, business personal property, business auto, general liability, inland marine, umbrella liability, workers compensation, and mortgage impairment including errors & omissions. Special community bank Safety Group experience dividend program available.
- Lenders Single Interest: A community bank insurance program that is designed to provide bank blanket protection on consumer loans. Eliminates the need to track insurance documents on existing consumer loans. Policy extends coverage to existing loans without additional upfront premium.
- Forced Placed Property Program: A community bank insurance program designed to give bank the option of force placing property insurance on customers that have let their insurance coverage expire. Both residential and commercial property may be insured in this program. Forms are provided to allow the bank to force place direct with the insurance company.
- Flood Zone Determination: A special program developed for community banks for compliance with Flood Disaster Protection Act requirements, including flood zone determinations for life of loan and force-placed flood insurance.
*Note: ICBM Insurance offers a special, $9.00 life of loan community bank rate.