MBIS provides insurance for banks by people who know banks
By Daryll J. Lund
For over 10 years, Midwest Bankers Insurance Services (MBIS) has saved bankers throughout the Midwest time, money, and the headache that comes with disasters of all kinds.
MBIS is co-owned by the Wisconsin Bankers Association (WBA) and the Minnesota Bankers Association and is endorsed by the North Dakota Bankers Association. As our independent insurance agency focused exclusively on serving and educating community banks in the Midwest, our team of dedicated individuals is equipped with three distinct lines of coverage that will help prepare your bank for the unexpected.
Professional Lines
MBIS offers banks three professional lines of coverage including financial institution bond, directors and officers liability (D&O), and cyber/privacy liability. Whether your bank is seeking policies that will protect the bank from losses arising out of electronic theft of customer information; protection against dishonest fraudulent acts committed by employees, customers, or third parties; or a combination of all of these — MBIS has your best interest in mind.
Property and Casualty Lines
It is important to ensure the safety of what makes up your bank. MBIS’ five lines of coverage including property coverage, general liability, business auto, umbrella liability, and workers’ compensation offer flexibility and peace of mind for every aspect of your bank.
Property coverage protects bank buildings and business personal property from physical damage; general liability protects the bank from customer or third-party personal injury claims on premise; business auto coverage, includes physical damage and liability of owned autos, repo autos, non-owned autos, and hired autos; umbrella liability, provides excess liability over general liability and business auto liability limits; and workers’ compensation is for employment-related injury or illness and covers lost wages and medical expenses.
Lending-Related Lines
Finally, MBIS understands that every bank approaches lending from a unique perspective. With that, our team will tailor your plan to the specific needs of your bank. To protect your loan assets, MBIS has four types of policies for banks to consider. Mortgage protection/errors and omissions (E&O), which covers physical damage losses to the bank’s real estate portfolio if the borrower doesn’t have insurance and property goes into foreclosure. Lenders Single Interest covers the bank’s auto, truck, boat, snowmobile, ATV, etc. for losses if the borrower doesn’t have insurance and chattel is repossessed with physical damage. Force placed hazard and flood provides coverage to borrower, and MBIS’ Flood Compliance Solutions program incorporates flood certifications, borrower purchased flood insurance, lender force place flood insurance, and notification to all real estate borrowers that flood insurance is available.
Rest assured that your bank will be covered no matter what life throws at you, and save yourself the headache later by investing now in competitively priced, top-of-the-line policies offered by MBIS.
Contact Jeff Otteson at 608-217-5219 or jeffo@mbisllc.com to learn more about what MBIS has to offer for your bank.
UnitedHealthcare provides WBA-member banks cost-effective benefit packages
By Daryll J. Lund
Now’s the time to start thinking about your employee benefits package and how an Associated Health Plan (AHP), serviced by UnitedHealthcare, could help you save. Gain similar purchasing power advantages and options that larger employers receive when you join other Wisconsin banks by enrolling in our AHP.
Through your enrollment in an AHP, your bargaining position is strengthened to help you obtain more favorable rates. A variety of flexible plan options are available to help balance costs and your administrative costs can be reduced through economies of scale.
And your employees will benefit too. They’ll have access to UnitedHealthcare’s provider network — the largest in Wisconsin — resulting in less disruption and a smoother transition. Wellness programs designed to motivate healthier habits and cost estimator tools to assist with making more informed care choices will help your employees with their overall health and budgetary goals.
The advantages don’t stop there. If you’re looking to add vision to your employee benefits package, UnitedHealthcare has you covered. Like their medical network, UnitedHealthcare has one of the nation’s largest vision networks. That means your employees will have the freedom to visit their favorite provider or retailer for vision services and eyewear needs. Alliances with Warby Parker® and GlassesUSA.com are included.
Learn how much you may save by contacting Brian Siegenthaler from Wisconsin Bankers Association – Employee Benefits Corporation at bsiegenthaler@wisbank.com or 608-441-1211.
EBC and MBIS offer flexible security for WBA-member banks
By Daryll J. Lund
National Insurance Awareness Day is June 28. Throughout the month, all WBA-member banks should take a moment to review their insurance policies. While this is good practice in preventing certain aspects of the bank from going underinsured, it is also important to verify your bank and employees are getting the best offers for the best price.
The Wisconsin Bankers Association – Employee Benefits Corporation (WBA EBC) offers WBA-member banks competitively priced plans covering life and disability, dental, medical, prescription drug, and vision insurance. Our flexible plans allow Wisconsin community bankers the purchasing power usually only offered to larger groups and access to an online insurance portal. Contact Brian Siegenthaler at 608-441-1211 or bsiegenthaler@wisbank.com to learn more.
Additionally, Midwest Bankers Insurance Services (MBIS), co-owned by WBA, offers banks throughout Wisconsin security with three distinct lines of coverage — professional lines (FI bond, D&O liability, and cyber liability), property casualty lines (building, liability, business auto, workers compensation, and umbrella liability), and lending-related lines (mortgage protection/E&O, lenders single interest, force placed hazard, and flood). These coverage lines protect banks across the Midwest and allow them to stay ahead of the unexpected. MBIS offers solutions and protection from the best carriers in the insurance industry. Contact Jeff Otteson at 608-217-5219 or jeffo@mbisllc.com to learn more about enrollment.
As uncertainty in our daily lives remain — be certain that WBA EBC and MBIS are here to offer the best, competitively priced policies for both your bank and employees. Take the first step in strengthening your employee benefits package or bank coverage lines this June by enrolling with WBA Insurance Services!
By Daryll J. Lund
The Wisconsin Bankers Association Employee Benefits Corporation, Inc. (WBA EBC) was formed in 1982 and as our Association Health Plan (AHP) begins its fourth year, I would like to thank each WBA member that has chosen to trust us for their insurance needs.
The flexibility of our high-quality health benefits (dental insurance, medical insurance, prescription drug plans, and vision) as well as life and disability insurance are typically reserved for large employers but — through the purchasing power of WBA EBC — are offered exclusively to WBA members at preferred prices. In the last three years alone, our member banks have collectively saved $1.8 million thanks to their member-driven AHP.
This year we are pleased that nearly 40 banks throughout the state have chosen the WBA AHP through UnitedHealthcare for their health insurance program. Through your enrollment in our AHP, 1,800 members will have access to affordable, highquality benefits and insurance throughout Wisconsin. In addition, our partnership with Lincoln Financial provides life and disability coverage for 10,000 members and our Delta Dental plans cover 7,000 members.
I, along with WBA EBC Vice President Brian Siegenthaler and our dedicated team look forward to continuing to assist you and your employees through our one-stop-shop for members enrollment and administration. We thank you once again for choosing WBA EBC to provide for the well-being of all employees in your organization.
Visit www.wisbankins.com or contact Brian Siegenthaler at bsiegenthaler@wisbank.com or 608-441-1211 to learn more about the advantages we offer.