Club Insurance

I was with Saga which were offering good cover at a competitive price suiting my needs, however they recently informed me that they would no longer be offering van insurance and that the CMC would take over the cover at the same price. At renewal I phoned the CMC insurance and yes the cover could continue at last years price, a good offer. It does now seem that the club is no longer offering "traditional" insurance but a Discretionary Mutual Cover where any surplus is reinvested back into the club. Should the funds not cover a claim there is a Group Insurance Policy which can be claimed on in this case. I've not heard of this before, has the club done a launch or publicised this apparently different offer? On the face of it the quote was very competitive, it will be interesting to see what next years renewal cost is.