Broome Cooperative Insurance Company Celebrates 130 YearsPosted: Updated:
Broome Cooperative Insurance Company celebrated its 130th anniversary Tuesday.
A ribbon cutting ceremony was held to commemorate the occasion.
The company began in 1887 in Windsor when local farmers formed the Farmers Fire Relief Association to protect their properties from the financial burdens of fire damage.
BCIC has twelve employees and a network of over 170 independent agents who serve not only farmers, but homeowners, landlords, and small businesses in New York.
Siobhan Davey, Chief Operating Officer of Broome Cooperative Insurance, said the difference between a cooperative and a regular insurance agency boils down to the people they serve.
Our duty is to our policy holders. We don't have shareholders, we don't have to turn in earnings per share every quarter, we are here to protect our policyholders. We’re serving their interest.
BCIC moved from Windsor to Vestal after growing too large for their old facility, and Davey hopes that they continue to grow.
We try to grow about 10% every year and that is our intention to keep growing. We want to be here for the long haul and we need to really grow and write new products and change and develop so that we can stay current.
BCIC is located on Vestal Parkway and is also celebrating ten years of business in Vestal.