Religious organization insurer acquires state school boards' insurersPosted On: Oct. 14, 2015 12:00 AM CST
Merrill, Wisconsin-based religious organization insurer Church Mutual Insurance Co. said Wednesday that they have agreed to acquire the insurance operations of the Pennsylvania School Boards Association.
Terms of the agreement were not disclosed.
As part of the acquisition agreement, Church Mutual Insurance Co. will acquire Mechanicsburg, Pennsylvania-based School Boards Insurance Co. of Pennsylvania, Inc. and New Cumberland, Pennsylvania-based School Claims Services L.L.C. The two firms will become wholly owned subsidiaries of Church Mutual Insurance Co., Church Mutualsaid in a statement.
School Boards Insurance writes property, general liability, boiler and machinery, commercial auto, and errors and omissions coverage for Pennsylvania public schools policyholders. It also writes excess liability and workers compensation coverage for Pennsylvania public schools policyholders. School Claims Services is the insurance operations of the Pennsylvania School Boards Association. SCS provides third-party claims administration, risk management services, and employee benefits programs and marketing, according to a Church Mutualstatement.
“(Church Mutal) and (School Boards Insurance)share a compatible and complementary mission and a culture dedicated to protecting our members,” Nathan Mains, Pennsylvania School Boards Association executive director said in a statement. “We look forward to this next evolution in providing our members with the highest quality insurance products and service available.”