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IBAA RENEWS CONTRACT WITH ST. PAUL FIRE AND MARINE

 SAN DIEGO, March 11 /PRNewswire/ -- The Independent Bankers Association of America (IBAA) today renewed its contract with the St. Paul Fire and Marine Insurance Company for the IBAA/St. Paul Insurance Program.
 IBAA President Robert W. Hawkins announced the contract renewal at the association's National Convention and Trade Exposition. Now in its 11th year, the program was extended through 1998.
 "The IBAA/St. Paul Insurance Program is a unique partnership between community bankers and one of the nation's major property- liability insurers," said Hawkins, chairman of Southern Commercial Bank in St. Louis. "It has helped independent banks manage risk and insurance costs during a crucial period for financial institutions."
 The program makes available to IBAA members all major coverages commonly needed by financial institutions, including bond, directors' and officers' liability, and other property and liability coverages. In its first 10 years, the program paid participating banks almost $4.5 million in dividends for measures taken to improve employee safety, reduce losses and cut insurance costs.
 "Each year, we have worked to increase the value of this program for IBAA banks," said David Litzkow, vice president-financial services for St. Paul Fire and Marine Insurance Company. "In the coming years we will continue our work of helping to minimize risk for our bank customers, and to develop quality insurance products for independent community banks."
 IBAA is the only national trade association which exclusively represents the interests of the nation's community banks.
 -0- 3/11/93
 /CONTACT: Stephen A. Ello of the Independent Bankers Association of America, 202-659-8111, or Patrick Hirigoyen of St. Paul Fire and Marine Insurance Company, 612-221-7598/


CO: Independent Bankers Association of America; St. Paul Fire and
 Marine Insurance Company ST: California, Missouri, District of Columbia IN: FIN INS SU: CON


DC-IH -- DC035 -- 5235 03/11/93 16:16 EST
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Publication:PR Newswire
Date:Mar 11, 1993
Words:300
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