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.
- Superior claims management.
Further details of the enhanced wordings will be available on our website shortly.
Being uniquely owned by our Not for Profit clients gives us a level of knowledge and empathy that is difficult to replicate. Our business model is tangible proof of this difference. Each year 70% of our surplus is returned to our Not for Profit shareholders as donations. A further 5% of our surplus is set aside annually to fund a small grants program for our non shareholder clients. Our insurer partners now add to this grants pool to enable us to expand even further the number of clients that we are able to assist.
We are excited about this significant change in our second year of operation as an underwriting agency and look forward to working with our broker partners to provide competitive and innovative solutions to their client’s needs.
Australia’s only insurance provider for Not for Profits which is owned by its own clients – Insuring Not for Profits – It’s All We Do.