Not for profit organisations face their own risks, ranging from damage to equipment and property, to liability arising from injury of third parties. There’s consequently a critical need in the Australian community for underwriting agencies specially versed in providing coverage for such organisations.
Given the number of players in the sector,
Insurance Business decided that Not for Profit should become one of five categories added to its Brokers on Underwriting Agencies report in 2016. Brokers have voted for those they consider the top players in the space and, in what was ultimately an extremely close contest, Community Underwriting was voted the inaugural winner.
Community Underwriting is a Sydney-based agency formed in 2014 and is said to be Australia’s only insurance provider for not for profits that is owned by its own clients. The agency provides insurance to a substantial range of charities, not for profit and community sector organisations across Australia. IB congratulates the first-time Brokers on Underwriting Agencies medallist, Community Underwriting, for a most impressive gold medal finish.
The silver medal for not for profit coverage goes to
DUAL Australia. Earning the bronze, we have
ASR Underwriting Agencies – another first-time medallist. Founded 10 years ago, ASR is today among Lloyd’s top 10 coverholders in Australia.
A shout out to all three medallists as well as the other participants in the not for profit space, helping those who, often, don’t appreciate their exposures to ensure they are adequately protected.
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