Novacore Acquires Texas-Based CPIA in Push into Lender-Placed Market
Novacore, the independent, next-generation specialty insurance provider (backed by New Mountain Capital), has entered into a definitive agreement to acquire CP Insurance Associates (CPIA), a long-established Texas-based insurance services agency. The deal, announced on February 2, 2026, marks Novacore’s strategic entry into the lender-placed insurance segment and expands its footprint in financial institution and lending ecosystem services.
CPIA, founded in 1977 and headquartered in Texas, specializes in:
- Lender-placed insurance (also known as force-placed or collateral protection insurance) — coverage that lenders require when borrowers fail to maintain adequate property insurance.
- Investor property insurance programs.
- Buy here pay here (BHPH) dealer financing protection.
- Insurance tracking, escrow services, compliance-driven administration, and claims processing for banks, mortgage servicers, credit unions, hard money lenders, and credit companies nationwide.
The acquisition adds nearly five decades of expertise in collateral protection, technology-enabled insurance administration, and regulatory compliance to Novacore’s platform.
Key Highlights from the Announcement
- Strategic Fit: CPIA strengthens Novacore’s specialty offerings in the financial institution space, complementing its existing 15+ high-performing niche programs (Property & Casualty, Accident & Health, Reinsurance) and retail agency (NSM Insurance Brokers).
- Growth Focus: The move supports Novacore’s expansion into scalable, compliant solutions for lenders and carriers across the U.S., leveraging CPIA’s operational infrastructure and tech-driven approach.
- Leadership Comment: Aaron Miller, CEO of Novacore, stated:
“The acquisition of CP Insurance Associates represents a strategic expansion of Novacore’s specialty capabilities into insurance services that are critical to today’s financial institutions. CPIA brings nearly five decades of experience, strong operational infrastructure and a technology-driven approach to insurance tracking and lender placed solutions. Together, we are enhancing our ability to deliver scalable, compliant, and efficient solutions that support lenders, carriers and distribution partners across the country.”
- Novacore Background: Launched in April 2025 after New Mountain Capital acquired NSM Insurance Group’s U.S. commercial division, Novacore operates with over 350 professionals across 11 U.S. offices, partners with 20,000+ agents, and manages billions in premium volume. This is its latest in a series of growth moves (e.g., prior acquisition of Minglewood Risk in October 2025 for real estate/habitational expansion).
Here are professional visuals of Novacore’s branding, CPIA’s Texas roots, and typical lender-placed insurance workflow diagrams from industry sources:
These images showcase corporate logos, Texas insurance agency scenes, and conceptual charts of collateral protection processes.
Industry Context
The lender-placed insurance market is a critical (and sometimes controversial) niche in the U.S. financial services ecosystem, where lenders protect their collateral interests amid rising property risks. Novacore’s push here aligns with its mission to innovate in specialty insurance through technology, automation, and strategic acquisitions—positioning it as a consolidator in fragmented segments.
Terms of the deal were not disclosed, and the transaction is expected to close subject to customary conditions.
For more details, check the official press release on PR Newswire or Novacore’s website (novacore.com). This acquisition underscores the ongoing consolidation in specialty insurance amid evolving regulatory and tech demands—stay tuned for integration updates! ?
