Leverage the services of an insurance agency designed for Minnesota banks
Midwest Bankers Insurance Services (MBIS) is insurance for banks, from people who know banks. Each of MBIS’ financial products is designed to protect financial institutions, their officers, directors and employees from disasters of all kinds. MBIS designs and secures programs specifically for community banks located in the Midwest, and it exclusively serves the financial industry. MBIS offers three distinct lines of coverage: professional lines, property casualty lines and lending-related lines to help your bank be ready for the unexpected.
MBIS is a joint venture owned by the Minnesota Bankers Association and the Wisconsin Bankers Association, while being exclusively endorsed by the North Dakota Bankers Association. The commissions earned by MBIS in Minnesota help support the MBA.
A Familiar Name
MBIS was formed in 2011 after the financial downturn created a need for a state association-run insurance agency to provide educational risk management practices as well as choices of multiple insurance companies and products. Jeff Otteson, whom many bankers are familiar with in Minnesota, was selected as the Vice President of Sales. Jeff has provided some of the best education and insurance products for financial institutions for over 25 years. With experience assisting financial institutions in Arizona, California, Colorado, Montana, Nevada and Wyoming, Jeff brings a wealth of experience and knowledge to your community bank insurance program. Adam Dawson was added as the Regional Sales Manager in 2015 and works with community banks in Minnesota and North Dakota.
Adam started his banking career in 2000 and has over 10 years of insurance experience with both bank and independently owned agencies. Yvonne Anderson and Jennifer Bockhop have been the Account Managers in Minnesota for many years. Many community bankers are familiar with their outstanding customer service and insurance knowledge.
Since it formed in 2011, MBIS has grown to reach 220 community banks in the Midwest. The insurance companies MBIS represents have paid millions of dollars in claims to community banks in Minnesota, Wisconsin and North Dakota. Because of this strong market presence, MBIS is able to identify and educate community banks on emerging claim trends, risk management practices, carrier sensitivities as well as coverage issues and premium negotiation.
The professional lines insurance marketplace is one example of the many changes that have taken place over the years, specifically related to cyber insurance. Jeff and Adam have been on the forefront of educating and providing cutting-edge insurance products to community banks and continue to see this area as an evolving market. MBIS supports the educational risk management process through individual risk assessment meetings, educational seminars and statewide conferences.
As an insurance agency run by those defending and advocating for banking, you can rest assured MBIS will always have your best interests in mind. As an independent agency, MBIS has access to a variety of insurance providers that we can tailor to meet the specific needs of banks.