Meals on Wheels, an Australian charity, has innovated the insurance sector by creating a unique insurance model that offers refunds and grants. Their agency, Community Underwriting, provides coverage to approximately 4,000 not-for-profit clients and shares profits with those who contribute over $50,000 in premiums. The model emerged as a solution for charities facing challenges in finding insurance coverage and aims to enhance financial sustainability within the sector. As a result of this approach, the agency has grown its premium base considerably and continues to distribute funds to support various charitable initiatives.
