“We don’t drive Maseratis but we are returning profits”
An Australian charity that delivers old people meals has developed a unique insurance model with refunds and grants. Coverages are offered through an agency, Community Underwriting, which has about 4,000 not-for-profit clients through brokers across the country.
As traditional insurance firms face increasing challenges from natural catastrophes, economic uncertainty and political instability, could this be a model for a more sustainable industry?
“We’ve grown pretty exponentially,” said Graeme Berwick (main picture, right, with chief underwriter, Sarogini Millott), director of Community Underwriting.
Berwick said the origins of the model go back about 30 years. At tha