October 3, 2016 by Canadian Underwriter
The Co-operators Group Ltd. announced Monday it “will be the exclusive provider” of property & casualty and life insurance for clients of First Credit Union subsidiaries in British Columbia.
Guelph, Ont.-based Co-operators said it will be “exclusive provider for First Credit Union’s insurance subsidiaries, First Insurance and Powell River-based Westview Agencies Ltd.”
Those products will include “the full suite of The Co-operators P&C and Individual Life products,” a Co-operators spokesperson wrote.
“The joint venture builds on the strong relationship First Credit Union has shared with The Co-operators via its credit union-focused subsidiary The CUMIS Group Limited,” the company stated in a release.
First Credit Union has five insurance branches – including Westview Agencies – and five credit union branches.
“The books of business include personal and commercial policies,” The Co-operators stated in a release. “Current clients of First Insurance and Westview Agencies Ltd. will be notified of the change, and their existing insurance coverage will remain in effect with no changes to their premiums or coverage for the current term of their policies. As current policies expire, clients will be offered comparable policies from The Co-operators.”
The joint venture “ensures that our insurance operations will be at the forefront of delivering insurance services in Canada through the integration of The Co-operators seamless omni-channel systems,” stated First Credit chief executive officer Dave Craigen.