Insurance and risk protection

Mutual insurers…

  • Increase customer trust and accountability
  • Give consumers more choice and increase competition in insurance markets
  • Contribute to corporate plurality and diversity
  • Promote economic resilience and sustainability

Increase customer trust and accountability

Because of their different purpose, mutual insurers help to increase customer trust and drive greater accountability.  Their members are their owners and they have a degree of influence over the way in which the insurer operates.

Give consumers more choice and increase competition in insurance markets

Mutual insurers provide additional choice in the marketplace. They do not pursue short term goals and are able to provide stability and consistency in a highly-developed market. They focus on delivering high-quality products, often designed with and for their customers/members.

Contribute to corporate plurality and diversity

Mutual insurers’ different business purpose permits them to pursue different business objectives which helps them contribute to corporate plurality and diversity. This contrasts with listed firms that require shareholder-led short and medium-term business strategies.

Promote economic resilience and sustainability

The evidence of the economic downturn is that mutuals and co-operatives have generally been more resilient than listed firms. Mutual insurers play an essential role in the global economy, especially in time of crisis, by combining profitability with solidarity; creating high-quality jobs; strengthening social; economic and regional cohesion; and generating social capital.

Industry super funds examples

Achmea Farm Insurance logo

Achmea Australia

Achmea Australia is a specialist farm insurer that cherishes its co-operative heritage.
Established Year: 2013
Architeam logo

ArchiTeam Cooperative

Membership association for Australian architects working in small, medium and emerging practices.
Established Year: 1991
Australian Unity Logo

Australian Unity

National healthcare, financial services and independent and assisted living organisation for over 175 years. Australian Unity has over 7,000 employees providing services to nearly a million Australians.
Established Year: 1840
Type: Mutual
Avant Mutual Logo

Avant Mutual

Australia’s leading medical defence organisation. Established by a small group of doctors in 1893, Avant now represents over 78,000 health practitioners and medical students, with the largest and most experienced specialist medico-legal defence team in Australia.
Established Year: 1893
Type: Mutual
Baptist Insurance Services logo

Baptist Insurance Services

National insurance scheme organising insurance on properly and other assets in excess of $5 billion and on behalf of over 1,350 constituents.
Established Year: 1984
Type: Mutual
CivicRisk Mutual

CivicRisk Mutual

CivicRisk Mutual is a mutual of NSW councils. It is self-managed, self-funded and owned and operated entirely by members for risk management regarding public liability losses.
Established Year: 1988
Type: Mutual

Employers Mutual

Employers Mutual is a member-owned insurance fund which provides for the claims and related injury management needs of employers and workers. Employers Mutual, through the Mutual Benefits Program provides the tools, resources and support for employees injured at work, and helps employers create safe workplaces.
Established Year: 1910
Type: Mutual
Employsure Mutual Limited Logo

Employsure Mutual Limited

Member-owned discretionary mutual open exclusively to Employsure clients, offering services including employment relations and health and safety consultancy. Offers protection to over 27,000 members, covering legal representation and liability arising from employment relations and health and safety claims.
Established Year: 2011
Type: Mutual
HCF logo


HCF is an award-winning health insurance fund with more than 1.6 million members nationwide. It uses its profits for the benefit of its members, delivering the lowest premium increases of the major funds. HCF is Australia’s largest not-for-profit health insurer.
Established Year: 1932
Type: Mutual
Lawcover Logo


The single provider of approved professional indemnity insurance to law practices in NSW, and insures practices in the ACT, NT, and national firms with a presence in NSW. Independent subsidiary of The Law Society of NSW, and Australia’s only ‘profession-owned’, licensed and APRA regulated insurer of the legal profession.
Established Year: 1999
Type: Mutual
MDA National Logo

MDA National

MDA National is an Australia-wide Medical Defence Organisation that provides member support services and extensive professional indemnity insurance. It is a member-owned mutual that exists solely to support and protect members and promote good medical practice.
Established Year: 1925
Type: Mutual


Specialist insurer offering a range of medical indemnity insurance products and associated services for over 120 years.
Established Year: 1899
Type: Mutual
Medical Indemnity Protection Society


MIPS provides member first protection, support and advice to doctors, dentists, oral health and nuclear technologist and healthcare students.
Established Year: 2004
Type: Mutual
Our Ark Mutual

Our Ark Mutual

Risk protection for property and/or contents, equipment, money and business interruption.
Established Year: 2020
Type: Mutual


Designs and operates risk transfer alternatives, including DMFs, for communities, industries and organisations seeking alternatives to insurance.
Established Year: 2016
Type: Mutual
StateCover Mutual Limited logo

StateCover Mutual Limited

StateCover Mutual is a specialised insurer, supporting the workplace risk needs of NSW councils and other local government entities.
Established Year: 2001
Type: Mutual
Station Agents Co-operative Limited logo

Stock & Station Agents Co-operative Limited

Formed to provide sound support for members throughout Australia by protecting their cash flow.
Established Year: 1994
Unimutual Limited Logo

Unimutual Limited

Unimutual is owned and controlled by Australian universities, higher education providers and associated entities for the sole benefit and interest of its membership. It provides cover for essential property and liability protection.
Established Year: 1989
Type: Mutual

Insurance submissions

Prudential capital standards for health insurance

BCCM called on APRA to work with the mutual health insurers to find a solution for the practical use of MCIs.
Jurisdiction: Commonwealth
Committee: APRA
Submission Date: 31 Mar 2022

Prudential capital standards for general insurance

BCCM recommended the cap on MEI contributions to tier one equity be increased.
Jurisdiction: Commonwealth
Committee: APRA
Submission Date: 31 Mar 2022

Treasury Laws Amendment (Cyclone and Flood Reinsurance Pool) Bill 2022

BCCM recommended amendment of the Bill to include mutuals.
Jurisdiction: Commonwealth
Committee: Senate Standing Committee on Economics
Submission Date: 04 Mar 2022