Benjamin & Benjamin (B&B) have engaged the professional Risk Engineering services of Steadfast Ltd’s Risk Services division to conduct formal engineering assessments through B&B at each site. These site Surveys are an essential requirement to build a credible, actuarially sound risk profile for each property proposed to be insured under the mutual.

B&B have committed to funding the cost of these Surveys. This investment not only eliminates initial financial barriers for participants but also accelerates the timeline significantly.

By underwriting this stage, B&B have ensured that we move forward with confidence, pushing the probability of a successful DMF outcome well into the 90%+ range. This contribution reflects their deep commitment to the industry and belief in the mutual’s potential, a necessary step toward a collective solution.

Following the Risk Engineering Surveys, each site’s report will undergo an independent audit and actuarial analysis. This will provide the data necessary to finalise the DMF’s business case—an assessment that should be completed within two weeks of the reviews being received.

If the assessment finds that there is a good financial/business case to create the DMF then, the next financial milestone will be a $50,000 investment to initiate the formal phase in the development of the DMF. Details regarding how this sum will be raised, repaid, or absorbed will be provided in due course, with a model proposed that ensures fairness and long-term sustainability for all involved.

This Survey must be current (no more than six months old) and in a format that meets the standards of the DMF analysis team. If you do not have a current Risk Engineering Survey then Steadfast Ltd has worked with B&B to streamline and reduce the cost of this process—yet another indication that the broader insurance industry recognises the importance of what we are building together.