The NSW Meals on Wheels Association has launched an underwriting agency to insure more than 700 non-profit organisations across Australia.

Community Underwriting has a unique business model, being owned by the larger not-for-profits involved, according to GM Paula Cruden. Meals on Wheels is the largest shareholder.

“We thought it was time to create a new benchmark for the way not-for-profits are treated in the insurance market and we thought this would give us the most amount of flexibility,” Ms Cruden told insuranceNEWS.com.au.

“Seventy-five per cent of our business income will be redistributed back to clients in the way of donations.”

Clients can retain their own local brokers, Ms Cruden says.

The portfolio of more than 700 clients was previously part of the CRISP insurance facility, which was operated by Willis for Meals on Wheels since 2008 and underwritten by Calliden.

Ms Cruden says the “facility was very limited in who we could offer insurance to”.

Calliden will offer security for Community Underwriting.