Member Matters Issue #4, Sept 2023

Welcome to the September edition of the Member Matters newsletter.

This month we have a bumper edition, starting with an update on the 2023/24 protection renewal. We also share our new Cyber Protection Fact Sheet, Value Proposition document, introduce our new Compliance, Training and Business Support Manager, and reveal our finalised 2023/24 ESG Plan.

Renewal Update

We continue working hard to ensure we can negotiate the best possible terms for our Members. Discussions are well advanced with our reinsurance partners, and we are on track for a 1 October reinsurance renewal. Our expectation is that we will be able to release terms to our Members and Brokers from 9 October 2023.

We also recently hosted our annual Renewal Update Webinar to provide an indication of potential pricing. This webinar provided a great opportunity to share insights of the 2023 renewal process and the expected pricing range for each protection. Susie Amos, Principal at Finity Consulting provided a comprehensive market overview, while Unimutual’s Tobias Pfau and Salinda Saat provided more detail about what the renewal process means for our Members. You can watch this webinar at your convenience here.

Cyber Protection Fact Sheet

At Unimutual, we are keen to understand where we can offer more support to our Members. We have recently received feedback from Members that they don’t completely understand their Cyber Protection. In response, we have created a Cyber Protection Fact Sheet that outlines the features and benefits of the protection and how our Members can get the most from the cover, including pre-loss features.

If you have any questions regarding this protection, please contact our Underwriter, Salinda Saat (salinda.saat@unimutual.com.au; 02 9169 6613).

As always, if you have any feedback, suggestions or requests for industry-related fact sheets, please feel free to email me at geoff.henderson@unimutual.com.au.

Unique Value Proposition

As part of our 5-year strategy, Unimutual is seeking to grow the Membership. We have developed a document showcasing the unique value created by your mutual to help us achieve this goal.

Titled ‘Why Unimutual’, this document serves to clearly articulate what makes us different, and the benefits of Membership. The document can be downloaded below.

We have also created a short video to help launch our new value proposition document.

Please feel free to share this with your LinkedIn network or with anyone in your organisation.

Meet Natalie – your new Compliance, Training and Business Support Manager

In response to Member feedback, Unimutual has recruited a new Compliance, Training and Business Support Manager. This role will be crucial in ensuring your mutual remains in line with governance, compliance and regulation standards in an evolving landscape. The role will also be responsible for training initiatives and supporting Member development.

I am pleased to advise that Natalie Young has joined Unimutual in this role. Natalie has over 30 years’ experience in Financial Services, having been responsible for workplace policy development, corporate governance, AFSL compliance, and learning and development.

We welcome Natalie to this role and look forward to sharing further detail with our Members as we deliver on our Governance, Compliance and Training needs.

ESG Strategy

Environmental, Social and Governance (ESG) refers to a framework to integrate environmental, social and governance risks and opportunities into a company’s strategy, to build long-term financial sustainability and create value.

As a responsible, corporate citizen, the Unimutual team has developed a five-pillar framework to embed ESG into our core business and activities.
In May, we asked our Members to review the draft plan and provide feedback. This consultation process has now finished, and feedback has been incorporated into the plan.

We are pleased to present to you Unimutual’s ESG plan for 2023-2025, which can be found here. Further detail on our progress will be provided in our regular updates.

Disaster Insurance Reimagined: Protection in a Time of Increasing Risk

At the Unimutual Annual Conference earlier this year, Paula Jarzabkowski presented about the topic, “Protection Gap Entities: Saving Disaster Insurance.” We are excited to share, with Paula’s blessing, exclusive Member access to her book, “Disaster Insurance Reimagined: Protection in a Time of Increasing Risk.”

Based on six years of research into disaster insurance protection gaps globally, Paula and her co-authors explain the complex multi-stakeholder partnerships needed to maintain insurance as a viable source of financial protection from disaster. The link to Paula’s book can be found on our website in the Member Only section.