CUPP Services was created to provide insurance solutions to its members.
CUPP Services is the primary insurer on three insurance programs which are available to British Columbia credit unions and/or their related entities:
The Master Property Insurance Program (MPIP) provides property, financial, and general liability insurance, as well as several miscellaneous coverages. To learn more about the MPIP, please go here.
The Professional Liability Insurance Program (PLIP) provides insurance against claims arising from business services offered to members. To learn more about the PLIP, please go here
All of the above-mentioned programs are administered by Central 1 Credit Union which provides fast, courteous, and professional service from its Vancouver office.
By insuring a portion of the risk with CUPP Services, program participants are partially shielded from the volatility of pricing and capacity that occurs in the general insurance marketplace, thereby providing increased stability to the programs.
Additionally, unlike traditional insurers, CUPP Services frequently returns surplus premiums to shareholders via dividends which reduce, sometimes substantially, the cost of insurance to participants.