Press Releases

BancInsure announces Director of Professional Lines Underwriting

Oklahoma City, OK – November 17, 2008 – BancInsure, Inc., announces that Bill Hess has been named Director of Professional Lines Underwriting.

“I am confident that Bill’s extensive experience and industry knowledge will continue to serve us well,” said Bruce Livingston, Vice President and Chief Underwriting Officer of BancInsure. “He brings to BancInsure an expertise in banking and insuring bank exposures that have proven to be a valuable asset to our team.”

Mr. Hess came to BancInsure with twenty-nine years of executive experience in underwriting leadership, program development, and operational oversight. His resume includes duties as senior auditor of a $5 billion bank holding company, risk analyst of distressed banking institutions for several leading Lloyds of London syndicates, underwriter for numerous surplus lines financial services programs as well as serving as broker for several large domestic and surplus lines financial services-related programs.

Prior to joining BancInsure, Mr. Hess served as the Brokerage Solutions Manager for CMIA Brokerage, a subsidiary of CUNA Mutual Group. Included among his many achievements at CMIA, were efforts to adopt new financial institution-related coverages for their clients. Mr. Hess also served as Vice President at Brasser Insurance Group, LLC in Nashville, TN where he managed and underwrote Lloyd’s Bank Insurance program and worked extensively in financial institution insurance. Mr. Hess began his insurance career at Third National Corporation in Nashville, TN as a staff auditor working his way to senior auditor before leaving to join Bowes and Co. as Assistant Vice President.

A graduate of Belmont University, Mr. Hess holds a Bachelors of Business Administration. Mr. Hess is a Chartered Bank Auditor, a Certified Internal Auditor and holds Property and Casualty and Surplus Lines licenses in 48 states.

As a full-line independent insurer specific to 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 has proudly earned an industry leading 25% market share. The Company is endorsed by eighteen banking organizations and is licensed in 48 states.

BancInsure Ready to Assist Banks Affected by Hurricane Ike

OKLAHOMA CITY, OK. – (BUSINESS WIRE) – September 15, 2008
BancInsure stands ready to help our insured banks that have been affected by the storm. “Everyone in the BancInsure family is ready to assist. This includes service center personnel, claims representatives, underwriting staff and the senior management team. Our commitment to our insured means that we will work with you until every question is answered.” states Jim Cross, Vice President of Claims at BancInsure, Inc.

As a full-line insurance provider focusing on the banking industry, BancInsure provides comprehensive coverage during times of unforeseen disaster and catastrophe. Banks affected by Hurricane Ike can report claims online at www.bancinsure.com, by phone at 800.682.1630, by fax at 405.290.5718 or through their local BancInsure agent. The BancInsure service commitment guarantees a response by the next business day, however every attempt will be made to respond the day a claims notice is received.

“Our immediate concern is the safety of your bank employees.” says Rodney N. Sargent, President and CEO of BancInsure, Inc. “We understand that the most important product we offer isn’t an insurance policy, it is peace of mind. BancInsure will be there for your bank today and tomorrow.”

As the only full-line independent insurer focused 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 with a stable outlook. The Company is endorsed by eighteen banking organizations and is licensed in 48 states.

BancInsure Continues to Offer Excess Deposit Guaranty Bonds

OKLAHOMA CITY, OK. – (BUSINESS WIRE) – September 9, 2008

Rodney N. Sargent, President and CEO of BancInsure, Inc., announced today that BancInsure intends to continue offering Excess Deposit Guaranty Bonds to the nation’s community banks and financial institutions.

“The vast majority of community banks in this country are run with discipline and diligence. We remain confident in the American banker. This product protects banks and protects consumers and we will continue to offer it for the foreseeable future.” says Rod Sargent, President and CEO of BancInsure, Inc.

Excess Deposit Guaranty Bonds insures consumer deposits in excess of $100,000 dollars. The Federal Deposit Insurance Corporation (FDIC) insures amounts up to $100,000 dollars per depositor. Private insurance, like that offered by BancInsure, is offered to cover amounts in excess of $100,000 dollars.

“Access to private deposit insurance is critical to the operations of virtually every bank in Oklahoma,” said Roger Beverage, President and CEO of the Oklahoma Bankers Association. “BancInsure was formed by bankers for bankers to do just that, and it’s just another reason why nothing’s safer than money in the bank.”

As the only full-line independent insurer focused 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 with a stable outlook. The Company is endorsed by eighteen banking organizations and is licensed in 48 states.

BancInsure Remains True to Original Mission

Oklahoma City, OK – July 10, 2008 -- Rodney N. Sargent, President and CEO of BancInsure, Inc., reaffirmed today that BancInsure remains committed to its original mission to be the provider of choice for community banks by offering superior products, professional claims service and risk management solutions during good times or bad. “We were made for times like these,” commented Sargent.

“Because we are no stranger to difficult times, we don’t shift course at the first sign of stormy weather,” commented Sargent. “Our bank partners, many of which have been with us since our inception in 1986, demand consistency in product availability and pricing, regardless of economic circumstances.”

“This is who we are, what we do, and how we do things at BancInsure,” commented Sargent. “Our core values and focus on banks separate us from multi-line insurers which have bank divisions that just happen to write bank insurance. The fact that BancInsure arose from an unknown start-up to become the most recognized and recommended insurance company for financial institutions makes us proud at BancInsure. Our commitment to the banking industry will continue to be our legacy.”

As a full-line independent insurer specific to 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 has proudly earned an industry leading 25% market share. The Company is endorsed by eighteen banking organizations and is licensed in 48 states.
 

A.M. Best Affirms Rating of BancInsure, Inc.

OLDWICK, N.J., June 19, 2008—A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of BancInsure, Inc. (BancInsure) (Oklahoma City, OK). The outlook for both ratings is stable.

The ratings reflect BancInsure’s favorable operating performance, capitalization that supports its rating level and its strong niche market focus.

Partially offsetting these positive factors is the company’s fluctuating return measures over a five-year period and the risks associated with the debt issued at the parent company. Further, A.M. Best continues to monitor the run-off of its medical malpractice book of business, which has indicated a favorable status to date. 

The ratings recognize BancInsure’s excellent business position with its continued close ties to community banks that include exclusive endorsement agreements with 18 separate bankers associations. Management believes that its new ownership structure has increased the effectiveness of its marketing entities, while the reduction in its board level from 31 to 14 directors has streamlined its decision-making process.

Financing through trust preferred securities at its holding company followed a management buy-out in January 2003. Although this debt is currently being serviced by a newly formed marketing entity for BancInsure’s products, there remains the risk that the company could be used to partially service this debt should its marketing entity’s cash flows deteriorate. Revenue stream of the marketing entity is derived from fee and commission. Nonetheless, under its revised operating structure, the company has profitably grown its book of business, serviced its debt and generated favorable return measures.

For Best’s Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.

BancInsure Plans Continued Expansion of Independent Agency Distribution System

Oklahoma City, OK – June 16, 2008 -- Rodney N. Sargent, President and CEO of BancInsure, Inc., announced today that BancInsure intends to continue aggressive expansion into the independent agency distribution system. “As the leading niche specialist in the community bank business for over 22 years, we are eager for partnerships with independent agents, we want to further our horizons and expand the scope of our operations,” commented Sargent.

Starting out as a direct writer formed by 15 state banking associations, BancInsure began its operations when many competitors lost the desire to serve the banking industry. “Tumultuous financial times are no stranger to BancInsure. We were made for times like these,” commented Sargent.

After transitioning to an independently owned company in 2003, BancInsure recognized further expansion opportunities by opening its distribution channels to independent agents. Said Sargent, “since inception, we’ve always utilized and respected the tremendous value of the independent agency system. Independent agents control a significant share of the community bank market, which is proof positive that they bring great value to the industry and their customers. We hope to form many new agency partnerships during the months and years ahead.”

“While we look for multiple bank agencies, a ‘one bank, one independent agent relationship’ has long been welcome here at BancInsure,” commented Sargent. “Our appointment process and business expectations are reasonable and in turn, we offer your financial institution clients ‘best in class’ claims service and a reinsurance portfolio that is unmatched in the industry.”

“We encourage independent agents to explore the ‘Get Appointed’ invitation on our website and see how easy it is to work with BancInsure. We want to partner with your agency during times like these.” Sargent added.

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 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.

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 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 

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.

Barbara A. Ewing

Barbara A. Ewing was appointed President and Chief Operating Officer for BancInsure, a wholly owned subsidiary of BMSI Holdings, Inc.  She was also elected as a director of BMSI Holdings, Inc.

Ms. Ewing was most recently the Vice President of Bond & Professional Liability Underwriting for BancInsure, joining the company in May, 2006.  She has held a number of leadership roles with Zurich North America Financial Enterprises (formerly The Fidelity & Deposit Company of Maryland).   She holds a B.A. from Lehigh University and is an Associate in Fidelity and Surety Bonding.

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 HSAToday^TM 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