Group Insurance
The MBA will continue to fight for our member banks. We are
proud to be the Champion for Minnesota Bankers, and no one
For many years, the MBA Employee Benefits Trust has provided
does a better job of advocating on your behalf.
high quality dental, life, and disability products to the majority
of banks in the state representing over 5,000 employees. Our
low overhead and group buying power enables us to offer very
Legal Department
competitive rates. In 2015, we are pleased to again report that
Over the past year, the legal department hired a new associate
there were no rate increases in our dental, life, and long term
counsel, Mike Thro. The MBA attorneys have commented on
disability plans.
proposed laws, written bulletins, manual
updates and case summaries to help our
Bankers are our only customers and we are
members navigate the legal and regulatory
proud of our many long term relationships.
environment.
The
MBA
attorneys
The support from banks all over Minnesota
MBA Employee Benefits
responded to over 2,600 banker inquiries
keeps our group insurance plans strong and
Trust provides products
over the past year and issued 12 Regulatory
stable and that is why we have been able to
Watch Bulletins. The department also
for over 5,000 employees.
offer great rates for many years. Even banks
submitted an amicus brief authored by Mike
that have not switched to the MBA Plans
Thro concerning coverage of a standard
have found it valuable to do their due
mortgage clause. Finally, the department
diligence, using a quote from us in their
facilitated 36 Regional Compliance Group meetings in 11 different
negotiations with their providers.
locations across the state for 416 compliance professionals.
Many banks also take advantage of our health insurance brokerage
business which provides the best plans available in Minnesota.
Finance
The Affordable Care Act (ACA) has made the health insurance
Our Finance Department provides support to MBA and its affiliates
more complicated but our staff can explain it all to you even if you
including MBIS and the Employee Benefits Trust. We invest most
are not a presently a client.
of MBA's funds in bank CDs. We solicit bids periodically, with
announcements in MBA News, our website and via email.
MBA Boards, Councils and Committees
Members from all over the state (represented on the map
Midwest Bankers Insurance Services
at left) participate by joining committees, task forces, and
MIDWEST BANKERS Four years ago, the MBA and the
special interest groups.
Insurance Services Wisconsin Bankers Association formed
»
MBA Board of Directors
Midwest Bankers Insurance Services LLC (MBIS) to broker bank
»
MBA Insurance & Services Board of Directors
insurance to members of both associations. In 2012, we received
»
Agricultural Committee
the endorsement of the North Dakota Bankers Association and
»
Annual Meeting Planning/Bank Management
now market to the banks in that state as well.
Task Force
We are pleased to report that we have grown to well over 150 bank
»
Commercial/Retail Lending Committee
customers and represent most of the best known insurance carriers
»
Compliance Committee
in the bankers bond, directors and officers, cyber, property &
»
Credit Union Task Force
casualty, collateral protection, and deposit guaranty marketplaces.
»
Education/Human Resources Committee
»
Employee Benefits Trustees
We are generating a profit for the MBA and we are providing
»
Government Relations Council
excellent service to the members.
»
Marketing Committee
Our sales professionals can reduce your risk and may be able to
»
Operations/Technology Committee
save you premium dollars as well. Before your bank's insurance
»
Savings Bank Special Interest Group
is up for renewal, please consider purchasing your insurance
»
Security Committee
through your association's agency. Even if you don't have a
»
Trust Special Interest Group
renewal soon, we would be happy to provide you with our
popular no obligation risk assessment. For more information
contact Vice President-Sales Jeff Otteson at 608-217-5219 /
jeffo@mbisllc.com or Regional Sales Manager Adam Dawson at
952-857-2604 / adamd@mbisllc.com.
The MBA
Ascensus,
MBIS served
Secure Banking
has seven
Deluxe Check Program,
over 150 bank
Solutions LLC, Total
endorsed
customers
Ncontracts,
Networx, Inc., and
vendors:
Office Depot,
Xerox.
18
MBA News | July/August 2015 | www.minnbankers.com

---