Banks are teaming up with their brokerage and insurance company rivals to thwart efforts by independent insurance agents to impose restrictions on bank insurance sales.

The Financial Institutions Insurance Association, Corte Madera, Calif., has formed a coalition that so far embraces 22 companies, including Bank Boston Corp. and Chase Manhattan Corp. The two banks are rubbing elbows with companies such as American Express Co., All State Life Insurance Co., Minnesota Mutual Life Insurance Co., and Dean Witter Reynolds that are seeking new sales outlets for their insurance sales.

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