Vero has announced premium reductions for small charities.
Any not-for-profit (NFP) organisation with an annual turnover of less than $1 million will be eligible, a definition that covers about one in four NFPs.
Suncorp Commercial Insurance Chief Underwriting and Portfolio Manager John Phillips says: “NFP charities and organisations make an immeasurable contribution to Australian society, often with minimal funding and cashflows.
“It is very important that these organisations can obtain the right level of insurance cover without diminishing the services they provide to the community.
“With reduced premiums, these organisations will be able to devote more of their funds to where they’re needed most.”