CORTE MADERA, Calif. - The Financial Institutions Insurance Association has chosen Lewis H. Pepper to receive this year's Raiken-Sender Bank Insurance Industry Award.

Mr. Pepper, who was president and chief executive officer of Washington Mutual Inc. until his retirement in 1990, is the award's fourth recipient.

The previous three are Charles E. Rice, former CEO of Barnett Banks (now part of Bank of America Corp.); Kevin E. Crowe, chairman and CEO of the third-party marketer Essex Corp. in New York; and former Comptroller of the Currency Eugene Ludwig.

The award recognizes people who have made substantial contributions to the linking of the banking and insurance industries. During Mr. Pepper's tenure at Wamu, the Seattle thrift company started its mutual fund family in 1980 and its insurance division in 1982.

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