From the category archives:
We are pleased to announce that Community Underwriting has renegotiated our agency arrangements. With effect from 30 May 2015 we will be partnering with Berkley Insurance Australia as security for our unique underwriting agency.
Calliden has been the principal insurer supporting Community Underwriting since we commenced operations in 2014. However following an extensive review of market alternatives, Berkley will now be the insurer behind the core products provided by Community Underwriting.
Berkley brings tremendous benefits to the Community Underwriting business model and will enable us to further improve what we are able to offer brokers and their Not for Profit clients, including:
The strength of an A+ rated insurer;
Increased appetite and capacities for larger Not for Profit risks across Australia;
Leading policy wordings further enhanced specifically for the Not for Profit sector;
An increase to the donation and grants pools available to our clients.
Under our unique business model, Community Underwriting returns 70% of its surplus to our Not for Profit shareholders.
We also allocate an additional 5% to non shareholder clients that have renewed their insurances with us. Our Grants Program enables us to reinvest our clients insurance dollars back into the sector every year.
We are pleased to announce the organisations that we were able to assist in a broad range of endeavours across the sector.
Our Grants Recipients Brochure provides interesting stories of the valuable activities and projects that have been helped from last years surplus.
We are already working hard on building a bigger grants pool for our 2015 renewal clients.
We aim to grow the program each year and make a real difference to the way insurance is provided to the Not for Profit sector.
NSW Meals on Wheels has been involved in helping Not for Profits obtain effective insurance for more than 20 years. What started with a few Meals Services with difficulty obtaining insurance 25 years ago, has today grown to include around 700 Not for Profits across Australia and more than $2.4 million in annual premiums.