1400 American Lane
Schaumburg, IL 60196
Jeff Michinok, Underwriting Manager
Property & Casualty Products - Offering New Property & Casualty Safety Group Dividend Plan - for PA Bankers member banks.
Zurich North America provides property and casualty insurance solutions to Pennsylvania Bankers Association’s members. Zurich has been providing insurance solutions to financial institutions in the United States for more than 125 years. Zurich offers products with coverage options designed to address:
- Property and casualty exposures;
- Lender placed property insurance;
- Foreclosed property and casualty;
- Trust property;
- Mortgage protection; and
- Lenders' environmental collateral protection.
Zurich’s financial institution products, services and dedicated team can help your financial institution manage its risk. Please contact us to learn more about Zurich's insurance and risk management solutions, including the Pennsylvania Safety Group Dividend Plan.
PA Bankers Services Corporation and Select Vendor, Zurich North America Commercial, offer a Zurich Property and Casualty Safety Group Dividend Plan to help financial institutions reduce their property and casualty insurance costs.
The safety group dividend program is designed to help banks reduce P&C insurance costs by putting into practice effective loss control measures that lead to a better-than-average loss ratio (the ratio of premium to losses). The dividend is calculated based upon the loss ratio, together with the Safety Group’s earned premium of the qualifying policies during the experience period. A qualifying dividend payment is made, subject to approval by the PA Bankers Services Corporation’s Board of Directors.
It’s easy to join and is open to all qualifying PA Bankers’ member banks. Eligibility depends upon the combination of qualifying insurance policies you have written through American Guarantee and Liability Insurance Company (a member company of Zurich in North America). Go through your current broker relationship or local Zurich Agent.
PA Bankers Association member institutions that meet established criteria become part of the “Safety Group” and share in the dividend payments Zurich disperses to the Group.Visit our website
Disclaimer: * Vendor selections and recommendations are made in accordance with the Services Corp's stated mission. It is believed that the promoted products and services merit strong consideration by PA Bankers member banks. PA Bankers Services Corporation's due diligence and selection criteria should not be construed as a guarantee, as the ultimate appropriateness may vary from bank to bank. In addition, PA Bankers member banks are encouraged to conduct their own due diligence reviews of recommended vendors. Remuneration received by the Services Corp is utilized in-part to support the PA Bankers Association through contracted agreements, corporate sponsorships and overhead coverage. This financial support expands resources and strengthens the services and programs of the PA Bankers Association.