InsurBanc, a savings bank dedicated to servicing independent agents, said it will offer a special loan program for qualifying agency principals affected by Hurricane Katrina.

Owned jointly by the Independent Insurance Agent & Brokers of America and insurer W.R. Berkley Corp., the Farmington, Conn.-based bank said it realizes independent agency owners affected by Katrina may have special financing needs over the next several months. The bank is offering special pricing on short-term loans for hurricane-related expenses in Mississippi, Alabama, Louisiana and Florida.

"The hurricane had a devastating effect on thousands of people," said Robert A. Rusbuldt, chief executive officer of the Alexandria, Va.-based IIABA. "InsurBanc's loan program will help minimize the financial impact on independent agency owners who are feeling the effects most closely, so that they can start getting their lives and businesses back to normal."

Rather than having to tap into personal money, credit cards, or wait for other emergency funds to become available, the program is designed to help qualifying agency principals get back to work immediately with a simplified loan process, he said.

Bob Pettinicchi, InsurBanc executive vice president, said, "Our unique expertise in agency financing allows us to offer these loan products quickly and inexpensively to qualifying agency principals to help them get back to serving their clients insurance needs."

For more information about the loan program, call 1-866-467-2262 or e-mail lending@insurbanc.com.

Special Reports /

InsurBanc To Offer Katrina Victims Special Financing

Related Stories

Recommended For You