The Co-operators acquires Credit Union Advantage Insurance Brokerage

The Co-operators has reached an agreement with Central 1 Credit Union to purchase Credit Union Advantage Insurance Brokerage (CUAIB). Alongside this deal, The Co-operators subsidiary CUMIS will become the insurer for coverages underwritten by CUPP Services upon expiry of the current policy terms. A release said that the deal to purchase CUAIB is part of a continuing commitment to the credit union system. The transaction also provides a direct serving relationship with credit union partners in British Columbia for their corporate insurance needs - the portfolio involved in the deal is a program of insurance protection, which includes P&C, financial coverage and professional liability. CUMIS has been the excess insurer for the insurance program for many years, a company statement noted.