Master Property Insurance Program

The Master Property Insurance Program (MPIP) is a comprehensive package of protection specifically tailored to the needs of credit unions and their subsidiaries or related companies.

MPIP coverage includes:

 physical damage to owned or leased property, including

  • fire, wind, water and other common “all-risks” perils
  • flood and earthquake
  • terrorism
  • business interruption resulting from property damage

 financial operation risks such as:

  • mortgage impairment
  • chattel impairment
  • force-placed insurance
  • general liability

Plus several other miscellaneous coverages.

Purchasing insurance as a group provides pricing and capacity advantages which participants realize in the form of premium savings and a stable suite of coverages. Insurers pass on savings to recognize the benefits of risk diversification and the reduced cost of administration that would be incurred with many individual policies.

Recognizing that not all credit unions and related entities have exactly the same exposures and tolerance for risk, CUPP Services can also assist in providing unique insurance solutions to complement or replace MPIP coverage as necessary. 

 

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