It's the cycle touring club, renamed in a fit of inclusively "Cycling UK" to attract people who are not members of the cardigan wearing classes.
More than a century old.
The club in turn will have an insurance provider that offers members insurance policies, and if it wasn't any good, the club would go elsewhere.
I've been running a bike shop for 30 years and get loads of opinions on insurance policy qualities from customers who have lost their bikes or been injured.