The St. Paul Companies Named Endorsed Carrier of the Missouri Independent Community Bankers Association.Business Editors ST. PAUL St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn.--(BUSINESS WIRE)--Oct. 4, 2000 The St. Paul Companies (NYSE NYSE See: New York Stock Exchange : SPC 1. (business) SPC - Statistical Process Control. Something to do with quality management. 2. (body) SPC - Software Productivity Centre. 3. (company) SPC - Software Publishing Corporation. 4. ) announced today it has been named the endorsed carrier of the Missouri Independent Community Bankers Association (MIBA MIBA Masters of International Business Administration ). The endorsement means The St. Paul will offer coverages such as financial institution bond, directors and officers liability, employment practices liability, fiduciary liability, bankers professional liability and property-casualty coverages to 200 members of MIBA. The St. Paul has been the endorsed carrier of the Independent Community Bankers of America (ICBA ICBA Independent Community Bankers of America ICBA International Center for Biosaline Agriculture ICBA Instituto Cultural Brasil Alemanha ICBA Independent Community Bankers Association ICBA International Conference on Biometric Authentication ) since 1983. The coverages will be offered through the ICBA/St. Paul Insurance Program. "We're pleased that the MIBA, a state affiliate of ICBA, has endorsed our products," said Rich Thomas, product director, The St. Paul Companies. "MIBA members will benefit from ICBA's group purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. , which offers program incentives that support community banking. In addition, MIBA members that also belong to the ICBA will be able to participate in a safety group dividend plan through the national program." "It made sense for MIBA to align itself with ICBA, the national organization, when offering insurance coverage to its members," said Gerald Littell, agency director, Missouri Independent Community Bankers Association. "We were also impressed with the scope and quality of business insurance coverages offered by The St. Paul." MIBA has identified Insurance Placement Center, Columbia Mo., as the primary independent insurance agent through which the ICBA/St. Paul Insurance Program will be marketed to its members. The MIBA is comprised of approximately 200 banks throughout Missouri. Founded in 1959, the MIBA is the oldest state independent bankers association in the United States. It is dedicated to the preservation of banking law and structure to ensure the continued prosperity of Missouri's independent banks. The St. Paul Companies is headquartered in Saint Paul, Minn., and provides commercial property-liability insurance and non-life reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. worldwide. The St. Paul reported 1999 revenues of more than $7.5 billion, total assets of $38.9 billion, and is ranked No. 204 on the Fortune 500 list of largest U.S. companies. For more information about The St. Paul and its products and services, visit the company's web site, www.stpaul.com. |
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