Under the agreement, Nexus will pay out if The Retail Mutual is on the hook for more than 57% of the community’s contributions in any one year as well as single claims above 200,000 British pounds ($255,000). The Retail Mutual rakes in about 2 million pounds a year, so Nexus will pick up the excess if claims top 1.14 million pounds.
Nexus Mutual Links With InShare to Back Cooperative Insurance in UK
