Members of a mutual are its owners. Wren has no outside shareholding, and therefore no aim to return a profit to investors whose interests would conflict with the provision to Members of equitable underwriting and claims management. As a result, insurance is provided to Members at cost.
A Member of Wren is both insurer and insured. All Members have a shared interest in maintaining high professional standards in the conduct of their business and membership is restricted to architects who are able to demonstrate that they place a high priority on sound professional management.
All Members are subject to the mutual’s Rules. These, and any changes to them, are approved by representatives of the Members to ensure that they continue to meet the needs of the Members – both in terms of the cover provided and obligations to the mutual.
To ensure that all Members are treated fairly and equitably, management of the mutual is delegated to an independent third party, Tindall Riley & Co Limited, which has no financial interest in the underwriting results. A fundamental role of the Managers is the provision to all Members of the support services recognised by the mutual as essential to its stability and the needs of its Members. These services include underwriting, claims handling, contract review and an active risk management programme for the whole membership.