Iowa Bankers Association Iowa Bankers Mortgage Corporation
Iowa Bankers Insurance
and Services
8800 NW 62nd Avenue
PO Box 6210
Johnston, IA 50131
Toll-Free: 800-532-1423
Fax: 515-286-4214

IBBP Customer Service:
    800-258-1415
125 Claim Fax:
    515-286-4244
IBBP Billing Fax:
    515-286-4369

Agent Customer Service:
    800-775-8858

Financial Institution Bonds

Financial Institution Bonds

Fidelity (Employee Dishonesty)
Fidelity (Employee Dishonesty) covers dishonest or fraudulent acts committed by employees acting alone or in collusion with others with the intent to harm the financial institution and obtain improper financial benefit for the employee or another.

On Premises
On Premises covers losses due to burglary, robbery, misplacement, mysterious unexplainable disappearance, theft, false pretenses, or larceny if committed by a person on the premises of the financial institution.

In Transit
In Transit covers loss of certain property while in transit due to robbery, larceny, theft, misplacement, mysterious unexplainable disappearance, damage or destruction to the property.

Counterfeit Money
Counterfeit Money covers loss from counterfeit currency.

Forgery or Alteration
Forgery or Alteration covers loss resulting from forgery or alteration of negotiable instruments (except Evidences of Debt), including counterfeit items.

Securities
Securities covers loss resulting directly from extending credit on the faith of certain original documents which are forged, altered, lost, stolen, or counterfeit.

Electronic/Computer Systems
Electronic/Computer Systems covers losses stemming from the fraudulent transfer of funds initiated through the financial institution's computer systems. The source of this fraud may be: (1) direct manipulation of the bank's computer system by a hacker; or (2) an employee acting upon fraudulent instructions transmitted to the bank by email, fax, voice, Internet or other tested communication from someone purporting to be a customer, bank employee, financial institution or automated clearing house. Reconstruction costs due to the destruction of data or programs caused by virus, hacker or employee sabotage are also covered.

Extortion-Threats to Persons/Property
Extortion-Threats to Persons/Property provides coverage worldwide for the loss of property surrendered as a result of threats to cause bodily harm to or hold captive an individual, or destroy property.

Unauthorized Signature
Unauthorized Signature covers loss resulting directly from the financial institution's accepting, paying or cashing any Negotiable Instruments or Withdrawal Orders that bear an unauthorized signature.

Check Kiting Fraud
Check Kiting Fraud covers check kiting losses.

ATM
ATM covers ATM losses due to theft, robbery and burglary.

Fraudulent Mortgages
Fraudulent Mortgages covers losses resulting directly from the financial institution accepting or acting upon morgages, deeds of trust, and like instruments conveying title to real property on which a signature is legitimae but defective because it was obtained through fraud, trick, or under false pretenses.

Stop Payment
Stop Payment provides coverage for failure to comply with a customer's request to stop payment, wrongful refusal to pay a check, and failure to give proper notice of dishonor.

Servicing Contractors
Servicing Contractors covers losses for dishonest or fraudulent acts committed by a servicing contractor with the intent to harm the Insured and gain financial benefit.

Transit Cash Letter
Transit Cash Letter expands In-Transit coverage to include a lower deductible and reproduction costs for transit letters.

Combination Safe Depository Policy

Liability of Depository covers losses which the financial institution becomes legally obligated to pay for loss of customers' property. Limits are available to $5,000,000.

Loss of Customers' Property covers the loss, damage or destruction to customers' property by burglary or robbery. In addition, the agreement covers damage to the premises and all furnishings, fixtures, fittings, equipment, safes, and vaults caused by a burglary or robbery, attempted burglary or robbery, or by vandalism or malicious mischief. This agreement may be purchased "with Money" or "without Money" coverage. Limits are available to $5,000,000.

 

Companies IBIS markets

Chubb Group of Insurance Companies
Rated “A++“ by A.M. Best as of 1/11

FinSecure
Rated "A+" by AM Best as of 1/11

OneBeacon Insurance Group
Rated “A“ by A.M. Best as of 1/11

ABA Insurance Services, Inc
Rated “A+“ by A.M. Best as of 1/11

Travelers
Rated “A+“ by A.M. Best as of 1/11

Zurich
Rated “A+“ by A.M. Best as of 1/11


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Mid America Banking Insurance Services, Inc., a subsidiary of IBIS, provides insurance programs to banks outside of Iowa. 

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Iowa Bankers Mortgage Corp. (IBMC) offers the products & experience Iowa banks need in the secondary mortgage market.

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The Iowa Bankers Association (IBA) is dedicated to serving Iowa banks and their employees.

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