HARTFORD, Conn.--(BUSINESS WIRE)--The Travelers Companies, Inc. (NYSE: TRV) today announced that it has become a Preferred Vendor to the Independent Community Bankers of South Dakota (ICBSD). This partnership gives members and eligible nonmembers of ICBSD access to the full suite of Travelers insurance products, which includes a broad set of property, casualty and specialty lines coverage.
“We have nearly 400 community bank branches in South Dakota, and more than 20,000 people who work full-time in our state’s community bank network,” said Megan Olson, President and Chief Executive Officer of the Independent Community Bankers of South Dakota. “They want the very best insurance options, and having the ICBSD partner with Travelers will allow them to meet their specific needs.”
Travelers’ financial institutions product portfolio is designed to address five primary exposures:
- Corporate management (Bankers Professional Liability, Directors & Officers Liability, Employment Practices Liability and Fiduciary Liability).
- Crime (Financial Institution Bond and Kidnap & Ransom).
- Cyber risks.
- Casualty (General Liability, Auto Liability and Workers Compensation).
“Financial institutions have a unique set of risks, and we have the expertise to help the South Dakota community banks mitigate those risks with insurance products tailored for their industry,” said Jerry Keup, Vice President, National Underwriting Officer for Banks and Diversified Financial Institutions at Travelers. “We appreciate the opportunity to serve as their insurance partner.”
The Independent Community Bankers of South Dakota exclusively promotes and defends the common interests of independently owned and locally controlled South Dakota community banks whose services are vital to the preservation of economic diversity in rural America. Nearly 400 independent community bank branches are located in South Dakota, representing more than 1,000 communities across the state and employing over 20,000 state residents. For more information, visit www.icbsd.com.
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately $29 billion in 2017. For more information, visit www.travelers.com.