Co-op Insurance Reviews are centred around the general quality of the various services they provide as well as their client-company relationship. Co-op insurance, formerly known as the Co-operative Insurance Society, is a general insurance company based in Manchester, United Kingdom. They are a wholly owned subsidiary of The Co-operative Group, which also has businesses with food, travel, electrical, funeral care and legal services sectors. Taking a good look down history lane and it becomes clear that Co-op Insurance was also a life insurer and fund manager for some time, sharing surpluses with holders of its ‘with-profits’ life policies, as well as with individual members of The Co-operative Group in proportion to their general insurance patronage. As well as having clear financial and operational objectives, this Group is a recognised leader for their social goals and community-led programmes.
They were formed in 1867 to provide fire and fidelity guarantee insurance to co-operative societies and in 1886, it was resolved at an Annual General Meeting that that Life Assurance be undertaken by the Company, and that the shareholders forfeit any rights they may have to the profits of the Life Department and agree that they shall belong exclusively to the Policyholders. However, in 2011, after 125 years, The Co-operative Insurance announced that it would cease providing life assurance products. Industrial life business was also introduced and the company was converted into an industrial and provident society, changing its name to Co-operative Insurance Society Limited (CIS), all in the year 1899. Further on, other classes of business were provided for the general public and not just for the selective co-operative societies and their members.
Co-op Insurance currently offers business insurance, home insurance, motor insurance and pet insurance products. Pet insurance is provided, underwritten and administered by Allianz Insurance, part of the Allianz (UK) Group. Home Rescue Plus, motor breakdown cover and accident recovery service are provided on behalf of Co-op Insurance by AXA Assistance (UK). Co-op is made of millions of members and this is what sets this company apart, making them different from other businesses, and as a member you’ll get special offers from across the Co-op family – as well as a say in how they run things. So why not consider making Co-op your choice today.
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