A new initiative born out of the Diocese of Sandhurst is changing the way Catholic entities across Australia manage their risk and insurance needs.
Catholic Risk and Insurance Services Ltd (CRIS) is a newly established not-for-profit entity that collaborates with Catholic communities across Australia to improve insurance procurement and risk management. By leveraging the combined assets of Catholic entities, CRIS helps these organisations secure better insurance outcomes, enabling them to spend less on insurance and more on mission.
CRIS is a newly established not-for-profit entity that collaborates with Catholic communities across Australia to improve insurance procurement and risk management. By leveraging the combined assets of Catholic entities, CRIS helps these organisations secure better insurance outcomes, enabling them to spend less on insurance and more on mission.
The Origins of CRIS
CRIS was born out of the recognition that, for over 100 years, Catholic Church Insurance Ltd (CCI) had been the primary provider of insurance to Catholic entities across Australia. However, with the decision by CCI to enter "run-off" in May 2023 – due to its inability to raise sufficient capital to meet regulatory requirements – there was a clear gap in the market that needed to be addressed. This prompted the creation of CRIS which operates, not as an insurer, but as a group purchasing body, leveraging the scale of the Church to secure better pricing and terms of cover for its members.
CRIS is a registered not-for-profit charity and is governed by a skills-based board. The company is owned by the Church, with members including Bishop Shane Mackinlay, the Bishop of Sandhurst, and Archbishop Timothy Costelloe, the Archbishop of Perth and President of the Australian Catholic Bishops Conference (ACBC); it is envisaged that, in time, other key Church leaders will become members of the company. This structure allows CRIS to represent a broad coalition of Catholic entities and collaborate effectively across dioceses, religious orders and other catholic organisations to achieve better outcomes for insurance procurement.
A Collaborative and Cost-Effective Approach
As part of its mission, CRIS aims to reaggregate the Church's insurance needs. By bringing together dioceses, Catholic schools, religious orders, and other Catholic entities, CRIS is able to drive efficiencies and savings in insurance procurement. This collaborative model has already proven successful. For example, the Dioceses of Sandhurst, Ballarat, and Sale have benefited from CRIS’s tender process for the 2024 renewal year, resulting in premium savings, reduced deductibles, and improved policy terms.
Since then, Catholic Education Western Australia (CEWA), which oversees education in all four dioceses of Western Australia, has joined the CRIS tender process and the benefits again shared with the participation of the Perth Archdiocese and the dioceses of Bunbury, Geraldton and Broome.
“The CRIS model has demonstrated the power of collaboration,” said Mr Fraser, Director and newly appointed inaugural CEO of CRIS. “By working together, we can secure better insurance terms for each organisation which are far better than any terms they could have reached on their own,” said Cameron Fraser. “This collaborative approach is about securing better pricing, so we can ensure we free up more financial resources for our core work in mission.”
CRIS helps Catholic entities, from large dioceses to smaller parishes, access expert advice on insurance and risk management. Its internal team works closely with external brokers to ensure that the policies secured are both cost-effective and comprehensive. This expert support helps dioceses and agencies navigate an increasingly complex insurance landscape, especially after CCI’s exit. “We bring the broker to the entity and the entity chooses the insurer they go with, backed by the support of CRIS and the diversity of assets across the Church; with that scale to market they are seen as lower risk for insurers,” said Mr Fraser.
“After payroll, insurance is usually the second largest expense for most dioceses, so it warrants careful analysis of whether the spend is doing all that it should be doing in the most cost-effective way,” said Mr Fraser. “For example, we don’t want Catholic entities to be in a situation where they pay more on inflated premiums when the actual insured risk is low. At CRIS we model premiums and claims history to verify if an organisation would be ahead by self-insuring to a certain level, especially if we can help our subscribers to become a ‘good risk’, " said Mr Fraser. “CRIS can certainly help with that, especially when we find entities facing premiums which have increased substantially with the cost-of-living crisis” and the underlying level of risk hasn’t changed.
Managing Risk, Not Just Insurance
Insurance is just one aspect of CRIS' broader focus on risk management. As part of its services, CRIS works with its clients to identify and mitigate risks before they lead to higher premiums or claims.
“We are committed to helping the Church understand and manage its risks,” said Mr Fraser. “Insurance isn’t just about purchasing policies. It’s about demonstrating a process of continuous improvement, identifying areas where we can reduce risk and, ultimately, lower the cost of insurance.”
Providing examples of risk mitigation Mr Fraser said, “It might include assisting with the compliance audits on buildings, which could result in retrofitting new fire mitigating technologies, such as Very Early Smoke Detection or “VESDA” smoke alarms.”
A new area of focus for CRIS is the emerging risk of cyberattacks and data breaches. “As part of its mitigation strategy, CRIS works with Catholic entities to implement practices to protect against fraud and cyber threats. This proactive approach is crucial for lowering the risk profile of its members, which in turn leads to better insurance outcomes and, more importantly, safer and more secure environments for Catholics to worship, serve and work,” said Mr Fraser.
The Mutual Goal
Looking ahead, CRIS is exploring various models to build a mutual fund, a self-insuring model to allow Catholic entities to manage an acceptable level of risk in-house. Once this model is tested, CRIS will seek a licence to provide broking services in-house, further streamlining the process and securing better outcomes for its members.
“One of the key goals is to build a mutual structure where the Church can self-insure to an acceptable level of risk and then go to the wholesale market to insure above that acceptable level,” said Mr Fraser. “This will allow us to negotiate even better terms and pricing, while also providing more control over our risk management strategies.”
A National Network with Local Impact
CRIS has already made an impact in Victoria and more recently in Western Australia. As it grows, it is focusing on expanding its reach to other dioceses and religious orders across Australia, offering them the opportunity to participate in the collective procurement process.
“I’ve found engagement with Catholic entities to be incredibly positive,” said Cameron Fraser. “The CRIS model has been well thought through and well planned. It’s a national initiative that benefits the whole Church in Australia. By pooling our resources, we can achieve outcomes that would be impossible for individual dioceses or agencies to achieve on their own; almost everyone I’ve spoken to seems to get that,” said Mr Fraser.
A New Way Forward
CRIS’ creation marks a new chapter in how the Catholic Church in Australia manages its risk and insurance needs. By focusing on collaboration, cost savings, and risk mitigation, CRIS is providing a model that not only improves insurance outcomes but also ensures that the Church’s financial resources are directed towards its mission.
“We’re not just here to save money,” said Mr Fraser. “We’re here to help the Church be more efficient, more effective, and better equipped to fulfil its mission in the world. This is just the beginning, and we’re excited to see where this journey takes us.”
To conclude
CRIS is a good news story for the Church. Born out of the challenges posed by the closure of CCI, it represents a forward-thinking, collaborative approach to managing risk and insurance. As it expands across Australia, CRIS is not only helping the Church save money but also demonstrating the power of working together for the common good. Through its innovative model, CRIS is paving the way for a more sustainable and cost-effective future for the Church’s operations.
