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OBA endorsement of BancInsure terminated

Effective March 23, the OBA endorsement of BancInsure was terminated. The OBA will not be endorsing any specific carrier as we move forward.

BancInsure was downgraded by AM Best to a “C-” last week. Our insurance agency has responded by suggesting our customers immediately transfer their coverage to AM Best A-rated Amtrust/BancInsure policies until their renewal and most have done so. At renewal, we can attempt to provide quotes from Amtrust/BancInsure and our other carriers. Some of our customers have chosen to move their coverage immediately to other carriers, and we are happy to provide this service as well.

If your bank has any questions, please contact Judy Hanna or Rhonda Ballare in the OBA Insurance Agency.

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