Oklahoma Bankers Association
OBA Insurance Agency
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OBAIA Products and Services

The OBA Insurance Agency represents several insurance carriers all with A.M. ratings of A (Excellent) or better. By representing several carriers, OBAIA is able to build an insurance plan specific to your needs while keeping your costs down.

OBAIA is able to provide the following types of insurance:

Debit card fraud
Directors and officer liability
Financial institution bonds
Internet and cyber banking liability
Lender, Entity and Professional Liability
Mortgage Impairment and Mortgage Errors and Omissions
Property and Casualty Policy including reposed auto coverage
Property and general liability for Forced placed and OREO

Insurance descriptions:

Debit card fraud

Coverage for financial institutions whose customers have experienced fraud with their bank issued debit card. Coverage can sometimes be covered by a financial institution bond policy. More comprehensive coverage for this risk is available through Bank Protector by Chartis.

Directors and officer liability

Directors and officer liability coverage insures corporate directors and officers against allegations claiming mismanagement or errors and omissions of professional services by the bank or its employees.

Financial institution bonds

Financial institution bonds, previously called “bankers blanket bond,” are used to insure financial institutions against employee dishonesty, burglary, robbery, forgery and similar crime exposures.

Internet and cyber banking liability

Internet and cyber banking liability provides coverage for financial institutions for losses arising from any actual or alleged omission, error, misstatement, misleading statement, neglect or breach of duty committed in connection with the provision of Internet banking services.

Lender, Entity and Professional Liability

Entity liability will cover the bank and holding company directly in addition to its directors and officer liability. A standard directors and officers liability policy will not provide coverage for the bank or holding company.

Mortgage Impairment and Mortgage Errors and Omissions (E&O)

Mortgage impairment provides coverage for a loss to a financial institution “mortgage interest” caused by physical damage to mortgaged property, tax seizure or defective title.

Mortgagee's errors & omissions provides liability insurance for negligent acts, errors or omissions in procuring and/or failing to main insurance for Required Perils.

Property and Casualty Policy including repossessed auto coverage

Provided as a combined package, this insurance covers a financial institution with general liability, it's building from natural elements including hail and automobile coverage, including repossessed auto coverage.

Property and general liability for Forced placed and OREO

Forced placed and OREO property coverage protects a financial institution for their interest on forced placed and OREO accounts.

Carriers represented:

ABA Insurance Services
www.abais.com
A.M. Best Rating of A+ (Superior)

AmTrust
www.amtrustgroup.com
A.M. Best Rating of A (excellent)

FinSecure
www.finsecure.net
A.M. Best Rating of A+ (Superior)

One Beacon Professional Insurance
www.onebeaconpro.com
A.M. Best Rating of A (excellent)