The Indiana Bankers Association announced a new subsidiary, IBA Insurance Solutions. This full-service, independent insurance agency was created to serve the needs of Indiana banks by providing industry-specific expertise. Areas of expertise include: collateral protection, property/casualty, bond/D&O, cyber/breach response, BOLI, and various fee income products and strategies.
Dedicated to the insurance needs of Indiana banks, the new IBA Insurance Solutions provides the services of insurance professionals solely focused on the area of banking. Chuck Maggard, president and CEO of IBA Insurance Solutions, will lead the insurance division.
“In my 30+ year career dedicated to assisting community banks with their insurance needs, I’ve pretty much seen it all,” Maggard said. “The modern-day bank robber is much more likely to use a computer and the internet than come into a bank branch with a gun. What we’ll do for Indiana banks is help by designing an insurance plan that keeps up with their ever-changing needs.”
Completing the IBA Insurance Solutions team is Brandon Maggard, who will be serving as a financial institutions specialist.
“A large part of the IBA’s fiscal strength comes from understanding the needs of Indiana banks. With the mounting challenges of our rapidly changing industry, it was apparent our bankers needed a trusted adviser for their specialized insurance needs, and we delivered,” said Amber R. Van Til, IBA president and CEO. “I’m confident that IBA Insurance Solutions, with its tailored expertise, will provide best-in-class programs and insurance solutions to our member banks.”