LONG ISLAND CITY, N.Y.—United Nations FCU said this afternoon its UNFCU Financial Services LLC, CUSO has acquired Industrial Coverage Corp, a privately-held, full service commercial and personal insurance agency located in nearby Patchogue, Long Island.
The deal gives UNFCU Financial Services more leverage with and access to insurance carriers and products for personal insurance, as well as to comprehensive business insurance, an Industrial Coverage Corp. specialty area and one UNFCU Financial Services LLC plans to enter. Among Industrial Coverage’s broad coverage are auto and property insurance for businesses with business income interruption, general liability, property of others and crime insurance included in their extensive suite of Business Owners Policies.
The acquisition will significantly enhance UNFCU Financial’s product/service capabilities for its members in the U.S. who are the active and retired staff of the United Nations community and their families. The company will continue to operate under the Industrial Coverage Corp name, serving its existing and new clients directly.
The full integration of the two organizations will be completed within the next 30 days.
"As we move forward, the combination of our organizations will drive growth and position us as a regional force in the insurance brokerage industry," said William Predmore, president of the $3.8 billion credit union.