Press
Releases:
BANCINSURE TO HOLD FIRM ON
PROFESSIONAL LIABILITY RATES DESPITE CHALLENGING MARKET
CONDITIONS
OKLAHOMA CITY,
OK. – (BUSINESS WIRE) – May 15, 2008
Rodney N. Sargent, President and
CEO of BancInsure, Inc. announced today “that BancInsure will be
holding firm on rates for the professional liability lines of
business for the duration of 2008.”
“BancInsure was
made for times like these,” commented Sargent. “Our
organization’s very purpose is to assist banks in difficult
insurance and business environments. We’re going to continue to
be there for banks today and tomorrow.”
According to
Advisen, one of the insurance industries leading advisors, “the
sub-prime crisis could hit the D&O market with losses up to $4
billion and that may be the low end of the estimate, especially
if any kind of criminal activity is discovered. Big legacy
insurers have to be thinking about their reserve positions right
now, especially those involved in financial institution
business.
This uncertainty in the D&O market
has led some carriers to re-think the adequacy of their pricing
models, especially combined with anticipated higher claims
activity. “Once again, BancInsure will provide the community
bank market with consistency during this period of financial
turmoil,” commented Sargent.
Founded in 1985 as the only
full-line independent insurer focusing completely on financial
institutions, BancInsure's understanding of financial
institutions and their intricate operations is unmatched in the
marketplace. This translates to extraordinary value through
complete risk mitigation and risk management solutions.
Headquartered in Oklahoma City, BancInsure holds an A-
(Excellent) A.M. Best rating. The Company is endorsed by
eighteen banking organizations and is licensed in 48 states.
BANCINSURE ANNOUNCES CHIEF
UNDERWRITING OFFICER
OKLAHOMA CITY, OK. –
(BUSINESS WIRE) – March 27, 2008
The Board of Directors for BMSI Holdings, Inc, the parent
company of the insurer BancInsure, Inc, announced today that
Bruce Livingston has been promoted to Vice President and Chief
Underwriting Officer of The Companies.
“This leader brings a depth of underwriting and insurance
experience that is essential for our operations,” said Rodney N.
Sargent, President and CEO of The Companies. “His strategic
insights into product and program development, coupled with his
executive leadership acumen, reflect the growing bench strength
of our leadership team.”
Mr. Livingston comes to BancInsure
with 24 years of executive experience in underwriting
leadership, program development, and operational oversight.
Prior to BancInsure, Mr. Livingston led product management and
development for Harleysville Insurance Company in Pennsylvania
and was an officer of the company. At Harleysville, Bruce also
directed the corporation’s underwriting approach to create an
additional $300M in premiums. He was a former Division
President of Professional Underwriters Corporation (a subsidiary
of Legion Management Corporation) where he served as Chief
Executive Officer for this underwriting services company
handling program premium in excess of $150M. Bruce started his
career at Crum & Forster Commercial Insurance Company where he
held a variety of roles.
A graduate of Texas Tech
University, Bruce holds a BA in Business Administration. He
holds the Chartered Property and Casualty Underwriter (CPCU) and
Associate in Claims (AIC) designations. Prior to Bruce’s
relocation from Pennsylvania to Oklahoma, he was an active
member of the Greater Valley Forge Chapter of CPCU.
Founded in 1985 as the only truly
independent insurer focusing completely on financial
institutions, BancInsure's understanding of financial
institutions and their intricate operations is unmatched in the
marketplace. This translates to extraordinary value through
complete risk mitigation and risk management solutions.
Headquartered in Oklahoma City, BancInsure holds an A-
(Excellent) A.M. Best rating and is licensed in 48 states.
Oklahoma Bankers Association Endorses BancInsure Flood Program
Oklahoma
City, Oklahoma-BancInsure
and the Oklahoma Bankers Association (OBA) announced today they
have partnered with The Flood Insurance Agency (TFIA) to deliver
a comprehensive flood compliance program for their 268 banks.
BancInsure, the only full-line
independent provider specific to banks in the United States, is
an OBA endorsed partner and now offers complete flood insurance
compliance solutions as a part of their comprehensive insurance
product portfolio. These products include Financial Institution
Bond, Extended Professional Liability, Property & Casualty,
Excess Deposit Insurance, Lenders Single Interest, Mortgage
Protection and Identity Recovery. BancInsure is licensed in 48
states and is headquartered in Oklahoma City, OK.
TFIA provides lenders with a total
flood insurance compliance solution consisting of flood zone
determinations, FEMA lender placed flood insurance, FEMA
voluntary purchased flood insurance, and flood insurance
compliance consulting. All services are available online at
bancinsure.floodcert.com,
www.thefloodinsuranceagency.com, and
www.mpppflood.com. The Company services all 50 states and
the District of Columbia, is headquartered in Kalispell, MT, and
can be reached at 877-356-6348.
“This partnership with TFIA and
BancInsure is a great advantage for the members of the OBA,”
said Roger Beverage, OBA president. “We now have access to
the premier flood insurance program in the country through
BancInsure, which means added value and better service for
Oklahoma banks.”
For additional information on the
BancInsure Flood Program, contact Scott Harris at 405. 488.0293
or Judy Hanna at 405.488.0292 or visit
www.bancinsure.com/flood.shtml for more information.
Corporate Contact:
Amy Walling, Marketing Manager
awalling@bancinsure.com
405.290.5790
BancInsure Announces
Addition to Executive Team
 Oklahoma
City, OK- BancInsure announced the arrival of Rudy
L. Erb as Vice President and Chief Information Officer for the
Companies: BancInsure Inc., BMSI Marketing, Inc. and Matterhorn
Financial Services, Inc.
Mr. Erb will assume
leadership for the Companies’ technology initiatives and
operations - including related strategies and projects.
Rudy joins BancInsure
with over 12 years of technology leadership. His management
experience has included insurance, financial services, and
banking. Most recently, Mr. Erb was Vice President of Retail
Banking Support overseeing the Payment Technology, Internet
Project Management, Leadership Development, and Budget
Administration & Vendor Management functions for Wachovia
(formerly World Savings). Prior to this, Mr. Erb worked for
several national insurers leading marketing analysis, e-commerce
development, and IT support departments. He holds a Bachelor of
Science degree in Information Systems from the University of
Idaho’s College of Business and Economics.
“With Rudy joining
our team, we continue to take steps towards developing the
technologically advanced infrastructure that will allow
BancInsure to continue as a leader in the insurance industry,”
Rod Sargent, CEO said. “With his aggressive strategic planning
history, Rudy will play a key role on our future growth and
success.”
BancInsure is the industry’s only
fully independent insurer with a specific focus on providing
insurance products to financial institutions. The Company
entered the market in 1986 amidst very difficult market
conditions. After 20 plus years of operations, the Company has
business relationships with roughly 20% of the community banks
in the United States. Headquartered in Oklahoma City, OK,
BancInsure enjoys endorsement agreements with 20 financial
organizations across the country.
Minnesota Bankers Association Endorses
BancInsure Flood Program
Oklahoma City, Oklahoma-BancInsure
and the Minnesota Bankers Association (MBA) announced today they
have partnered with The Flood Insurance Agency (TFIA) to deliver
a comprehensive flood compliance program for MBA’s
450 bank members.
BancInsure, the only full-line
independent provider specific to banks in the United States, is
an MBA endorsed vendor and now offers complete flood insurance
compliance solutions as a part of a comprehensive insurance
product portfolio. These products include Financial Institution
Bond, Extended Professional Liability, Property & Casualty,
Excess Deposit Insurance, Lenders Single Interest, Mortgage
Protection and Identity Recovery. For additional information on
the BancInsure Flood Program, contact Keith Peters at
866-259-6633 or visit
www.bancinsure.com
.
TFIA provides lenders with a total
flood insurance compliance solution consisting of flood zone
determinations, FEMA lender placed flood insurance, FEMA
voluntary purchased flood insurance, and flood insurance
compliance consulting. All services are available online at
bancinsure.floodcert.com,
www.thefloodinsuranceagency.com,
and
www.mpppflood.com.
The company services all 50
states and the District of Columbia, is headquartered in
Kalispell, Montana, and can be reached at 877-356-6348.
“This partnership with TFIA and
BancInsure is a great advantage for the members of the MBA,”
said Joe Witt, MBA President/CEO. “We now have access to the
premier flood insurance program in the country through
BancInsure, which means added value and better service for
Minnesota banks.”
BancInsure is licensed in 48 states
and is headquartered in Oklahoma City. They are exclusively
endorsed by 18 financial organizations across the country and
hold an A-(Excellent) rating by A.M. Best.
Wisconsin Bankers Association Endorses
BancInsure Flood Program
Oklahoma City, Oklahoma-BancInsure
and the Wisconsin Bankers Association (WBA) announced today they
have partnered with The Flood Insurance Agency (TFIA) to deliver
a comprehensive flood compliance program for their 300 plus
banks.
BancInsure, the only full-line
independent provider specific to banks in the United States, is
a WBA endorsed partner and now offers complete flood insurance
compliance solutions as a part of their comprehensive insurance
product portfolio. BancInsure is licensed in 48 states and is
headquartered in Oklahoma City, OK.
TFIA provides lenders with flood
insurance services and lender placed insurance to individual
property owners, insurance agents, mortgage lenders, flood zone
determination companies, insurance companies and public housing
authorities. The Company services all 50 states and the District
of Columbia and is headquartered in Kalispell, MT.
“This partnership with TFIA and
BancInsure is a great advantage for the members of the WBA,”
said Kurt Bauer, WBA president. “We now have access to the
premier flood insurance program in the country through
BancInsure, which means added value and better service for
Wisconsin banks.”
For additional information on the
BancInsure Flood Program, contact Jeff Otteson at 608.441.1244
or visit
www.bancinsure.com/flood.shtml .
National Insurer
Responds to California Wild Fires
BancInsure
announced today that it is taking steps in response to the
devastating wild fires in Southern California. As the only
full-line insurance provider specific to banks, BancInsure
provides comprehensive coverage during times of unforeseen
disaster and catastrophes.
“Our goal is to make sure all our
current banks and their customers are out of harms way. We want
them to know that we are fully prepared to assist them with all
their insurance and claims needs,” said Rod Sargent, CEO of
BancInsure.
“Everyone in the BancInsure family
is ready to assist. This includes service center personnel,
claims representatives, underwriting staff and the senior
management team. Our diligence consists of staying with our
customers until every question is answered and every result is
obtained” continued Sargent.
Banks affected by the fire can
reach BancInsure three ways: Contact your local BancInsure
agent, call 800.682.1630 and speak to a claims representative or
visit
www.bancinsure.com/ContactUs/FileAClaim and file on-line.
BancInsure responds to all claims within 24 hours.
BancInsure holds an A- (Excellent)
rating from A.M. Best. They currently insure over 20% of the
community banks in the United States and are licensed in 48
states. Their corporate offices are located in Oklahoma City,
with Service Centers located throughout the US.
Contact:
Amy Walling, Marketing Manager
awalling@bancinsure.com
405.290.5790
PROMOTIONS ANNOUNCED AT MATTERHORN FINANCIAL
SERVICES
BMSI Holdings, the holding company
for multiple financial services companies, including Matterhorn
Financial Services, BMSI Marketing, and BancInsure, today
announced a number of promotions and appointments following a
meeting of the Board of Directors in Oklahoma City, OK.
Louis C.
Verdile,
Vice President of Sales for BMSI Marketing, was appointed Vice
President of Sales for Matterhorn Financial Services and Vice
President of Sales for BancInsure.
William H.
Funk,
Vice President of Marketing for BMSI Marketing and BancInsure,
was appointed Vice President of Marketing for Matterhorn
Financial Services
Jody L. Weaver,
Assistant Secretary/Treasurer for Matterhorn Financial Services
was appointed Vice President of Finance for Matterhorn Financial
Services.
Ronald J.
Robinson, manager
of underwriting operations, was appointed Vice President of
Underwriting for Matterhorn Financial Services.
"We are fortunate to have strong
executive leaders in our companies and these appointments
reflect our confidence and continued evolution as a leader in
our niche'," commented Rod Sargent, CEO of the companies.
BMSI Holding’s family of companies
focus on products and services designed to meet the risk
management needs of financial institutions. Matterhorn
Financial Services, headquartered Timonium, Maryland, is
recognized as a premier provider of loan related products and
services to financial institutions.
CONTACT: BMSI Holdings, Inc.
Amy Walling
Marketing Manager
awalling@bancinsure.com 405-290-5790
SOURCE: BMSI Holdings, Inc.
BANCINSURE ADDS TO EXECUTIVE TEAM
OKLAHOMA CITY, OK. – (BUSINESS WIRE)
– May 3, 2007
 BancInsure,
Inc announced today that Louis C. Verdile has been appointed
Vice President of Sales for BMSI Marketing, the sales and
marketing division of the company. “Lou will bring us a new
perspective and innovative ways to support our customers and
sell our products,” said Rodney N. Sargent, chief executive
officer of BancInsure. “As we implement new growth initiatives
for the company, establishing a dedicated leader of the sales
organization is essential. Lou’s industry experience, his
understanding of financial institutions, and his tenacious focus
on service reinforces our company mission and core values.”
Mr. Verdile is
a 25 year veteran of insurance sales leadership. He has held
positions with multiple companies, most recently with National
ID Recovery as Vice President of Marketing and Sales. His
background includes executive roles with Trident Insurance
Services, V.O. Schinnerer (a division of Marsh), and several
others. His background also includes executive positions with
Brown & Brown, Governmental Programs and PENCO. Louis Verdile,
50, is a graduate of Syracuse University and a veteran of the
United States Navy.
Founded in 1985
as the only truly independent insurer focusing completely on
financial institutions, BancInsure's understanding of financial
institutions and their intricate operations is unmatched in the
market. This translates to extraordinary value to our customers
through complete risk mitigation and risk management solutions.
CONTACT:
BancInsure
Amy Walling
Marketing Coordinator
awalling@bancinsure.com 405-290-5790
SOURCE:
BancInsure, Inc.
THE FLOOD INSURANCE AGENCY FORMS STRATEGIC MARKETING
ALLIANCE WITH BANCINSURE, INC.
KALISPELL, MT – March 21,
2007 - The Flood Insurance Agency (TFIA)
has entered into an agreement with BancInsure, Inc. wherein
BancInsure will market TFIA’s total flood insurance compliance
solution to their existing client base of approximately 2200
community banks and will utilize the flood compliance solution
to attract new bank clients.
Rod Sargent, CEO of
BancInsure, signed the agreement with TFIA today. “TFIA and
their full compliance solution reflects the type of relationship
we seek as the premier provider of risk management solutions for
community banks,” says Sargent.
TFIA markets FEMA
standard flood hazard area determinations, FEMA standard flood
insurance policies and FEMA lender placed flood insurance. A new
private label program provides BancInsure with a name branded
online instant response zone determination website,
bancinsure.floodcert.com. A second private label program,
www.bancinsureflood.com, advertises the BancInsure name and
logo on FEMA standard flood insurance policies.
A third website,
www.MPPPFlood.com, is an automated solution for keeping lenders'
loan portfolios in compliance with federal flood insurance
regulations. The automated system allows lenders to instantly
calculate lender placed flood insurance premiums, print FEMA
required warning letters, generate applications to place
insurance, and print all documents required to cancel a policy.
MPPP policies are the only lender placed policies whose claim
payments are funded by the United States Government.
"Possibly the most
unique and well accepted feature of MPPPFlood.com is our patent
pending OSPCP," said Evan Hecht, Chief Executive Officer of
TFIA. "It is the first lender placed flood insurance program
that clearly shows borrowers the benefit of replacing a lender
placed flood policy with a policy they choose to purchase
themselves."
The optional
standard policy conversion is comprised of a series of automated
letters sent to borrowers by TFIA encouraging the borrower to
contact their staff of licensed flood insurance professionals.
Lender clients can choose to opt in or out of Optional Standard
Policy Conversion Program (OSPCP). Moreover, each lender can
choose online which borrowers they would like to enroll in the
program. Both MPPPFlood.com and OSPCP are provided to lender
clients of TFIA free of charge.
The Flood
Insurance Agency (TFIA) is a technology-driven, independent
insurance agency devoted entirely to providing flood insurance
solutions to individual property owners, insurance agents,
mortgage lenders and public housing authorities. The Company's
website,
www.thefloodinsuranceagency.com, offers National Flood
Insurance Program (NFIP) flood insurance quotes and FEMA
Standard Flood Hazard Area Determinations. The Company markets
www.MPPPFlood.com , the first software to automate FEMA's
Mortgage Portfolio Protection Plan (MPPP) lender placed flood
insurance program. The Company services clients in 50 states and
the District of Columbia, and is headquartered in Kalispell, MT.
BancInsure is
the industry’s only fully independent insurer with a specific
focus on providing insurance products to financial institutions.
The company entered the market in 1986 amidst very difficult
market conditions. After 20 years of operations, the company
has business relationships with roughly 20% of the community
banks in the United States. Located in Oklahoma City, OK,
BancInsure enjoys an endorsement agreement with 20 state bankers
organizations.
###
OKLAHOMA CITY, OK.--(BUSINESS WIRE)—April 9, 2007
BMSI Holdings,
the holding company for BancInsure, Inc, today announced a
number of promotions and appointments following their annual
shareholders meeting in Dallas, TX.
Rodney N.
Sargent |
Rodney N. Sargent was appointed President of BMSI Holdings and
Chief Executive Officer of the companies, and was elected a
director of the company.
Sargent, 45, joined the company in December 2006 as President of
BMSI Marketing, Inc, the sales and marketing arm for BancInsure.
His experience includes executive management with several
national insurers, including executive roles with Seattle-based
Safeco as Corporate Marketing Officer and Corporate E-Commerce
Officer. Mr. Sargent was also the Vice President of Marketing
for the Property & Casualty Companies of United Services
Automobile Association (USAA). Prior to joining BancInsure, Mr.
Sargent was Corporate Vice President and Chief Marketing Officer
for Argonaut Group.
Rodney Sargent is a graduate of Portland State University and
Seattle University's Executive Leadership Program at the Albers
Graduate School of Business.
Cynthia F.
McInerney |
Cynthia F. McInerney was appointed Executive Vice President,
Chief Financial Officer, Secretary, and Treasurer for BMSI
Holdings, Inc. and all subsidiary companies. Cynthia was also
elected as a director of the company.
McInerney has been with BancInsure since it’s founding in 1985,
serving as Secretary, Treasurer and Chief Financial Officer
since 2003. Ms. McInerney holds a B.S. in Accounting and an
M.B.A. from the University of Illinois. She is a member of the
Oklahoma Society of CPA’s and the AICPA.
Galen T.
Pate, the Company's chairman, said: "These actions reflect our
faith in the leadership team and our commitment to the
direction, strategies, and objectives already underway. With
these changes, we are well positioned to achieve the sustained
and profitable growth we seek.”
Founded in 1985 as the only truly independent insurer focusing
completely on financial institutions, BancInsure's understanding
of financial institutions and their intricate operations is
unmatched in the market. This translates to extraordinary value
to our customers as this understanding permeates the fiber of
all areas of the company's operation.
CONTACT: BancInsure
Amy Walling
Marketing Coordinator
awalling@bancinsure.com
405-290-5790
SOURCE:
BancInsure, Inc.
BancInsure
Provides HSA Custodian Solution to Banking Industry
Oklahoma City,
OK (2006) – BancInsure is pleased to announce the
expansion of their financial offerings to include serving as an
HSA custodian with the HSATodayTM program, the
nation’s most comprehensive Health Savings Account
administration and delivery platform. Delivered under the brand
name HSA@BancInsure, these HSA services will meet the
expanding opportunity that BancInsure client banks, as
Associated Member Banks in the HSA@BancInsure™ program, have
to serve their customers.
BancInsure’s
entry into the HSA market is designed to assist and complement
the efforts of its policyholders, community banks, in developing
a full-service HSA product that can be offered to their
customers. HSA@BancInsure™ is a unique program that allows
Associated Member Banks to answer the HSA need for their
clients, protecting critical commercial account relationships,
with a low cost of entry and opportunity to increase deposits.
As a trusted bank partner, BancInsure will provide the HSA
answer while explicitly supporting and protecting the Associated
Member Bank’s account relationships.
The market for
Health Savings Account continues to rapidly expand as employers
seek creative solutions to continuing inflation in health
benefit costs. HSAs, used in conjunction with the requisite
high-deductible health plan (HDHP), provide employees and
employers lower health plan costs and tax-favored saving
opportunities. Using a BancInsure Health Savings Account through
one of BancInsure’s Associated Member Banks, account holders are
able to pay for their out-of-pocket medical expenses with
tax-free income, or allow the funds to grow through interest
income tax-free.
For more
information, contact HSA@BancInsure™ at 1-866-624-0044.
BancInsure Announces
Streamlined Renewal Process
October 4, 2006
BancInsure, Inc. announces an optional,
more streamlined renewal process for its clients, utilizing A.
M. Best’s bank ratings in lieu of its usual application.
A. M. Best’s ratings will be integrated into BancInsure’s
normal customer renewal cycle. A price discount is offered by
BancInsure as further incentive to banks due to the cost savings
in its underwriting process.
A. M. Best has established an interactive
bank rating service focusing on providing credit ratings to
community banks. Unlike the public data-derived ratings
available to the majority of community banks today, A. M. Best
will provide an interactive process by working directly with the
management of the bank to gain a superior understanding and
knowledge of the bank and its operations.
As stated on various public occasions by
Khanh Vuong, Managing Senior Financial Analyst of the initiative
for Best: “A.M. Best’s initial focus will be on U.S. banks with
asset sizes ranging from approximately $100 million at the low
end to approximately $40 billion at the high end, with a
specific focus on the mid-sized and small banks. Small and
mid-sized U.S. banks traditionally have not received
comprehensive rating coverage. However, there are very
compelling needs for ratings on small and mid-sized banks in the
changing U.S. banking industry.” A.M. Best’s recent public
announcement stated that it believes that a comprehensive
interactive rating will enhance a small or mid-sized bank’s
operation, by affording it greater expediency in reaching out to
new deposit bases and other funding sources. Because of
increasing competitive pressures, small and mid-sized banks are
constantly searching for ways to improve their operations, and
an interactive rating will be an indispensable part of these
banks’ business management tools.
“BancInsure is uniquely positioned to take
advantage of this service.” BancInsure President and CEO, Bill
Haaland, stated, adding “We are very pleased to be the first to
market with this new streamlined underwriting process. As an
underwriter of community banks, we find great value in this new
service Best is offering. We also know that, as with anything
Best offers, it will be of extremely high quality.”
BancInsure is the industry’s only fully
independent insurer with a specific focus on providing insurance
products to financial institutions. The company entered the
market in 1986 amidst very difficult market conditions. After
20 years of operations, the company has business relationships
with roughly 20% of the community banks in the United States.
Located in Oklahoma City, OK, BancInsure enjoys an endorsement
agreement with 20 state bankers’ organizations.
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