Community Underwriting has signed an agreement with Mitsui Sumitomo Insurance Company allowing it to expand its not-for-profit offering.
Graeme Berwick, Community Underwriting’s executive director, says the deal will allow the agency to enhance its offering to not-for-profit clients and their brokers, including continuing to underwrite not-for-profit vehicle fleets.
“Using the partnership with Mitusi Sumitomo we have … greater capacity and appetite to cover larger and more diverse property risks along with a broader range of accident and health products, such as group personal accident, journey and corporate travel,” he adds.
Berkley Insurance Australia will continue to be security for its specialist Not for Profit Association Liability and General Liability product.
Berwick says Community Underwriting has already been writing motor vehicles with MSI since May, and property since early June. “Corporate Travel and other accident products with come online in the next quarter.”
Like the one with Berkley Insurance, the MSI deal is open-ended with Berwick adding: “We believe in long-term partnerships with our security providers with an alignment to the specific needs of the not-for-profit sector and the brokers that have clients in this space.”
MSI is part of the MS&AD Insurance Group and operates in 46 countries/regions worldwide, including the second largest Lloyd’s syndicate MS Amlin.
Community Underwriting is majority owned by not-for-profit clients.