A Jersey Summit Meeting Between Insurance Agents and
Financial Services Marketing (08/00) Vol. 2, No. 5 p.36; Hintze, John
Summit Bank, a $36 billion asset regional bank is
perhaps the first regional bank to be successful in the insurance
arena, with anticipated revenue from its Summit Insurance
Advisors to exceed $60 million. Over the last few years, the
bank aggressively bought insurance agencies, building the largest
broker affiliate network in New Jersey and the 15th largest in
the nation. Summit has made concerted efforts to overcome the
accountability, compensation, and training issues with which
banks often cannot deal. Summit attributes much of its early
success to opening channels of communication between insurance
specialists and bankers, who often do not see eye to eye.