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In response to the escalating digital threats facing strata communities, CHU Underwriting Agencies has integrated cyber fraud coverage into its standard residential strata insurance policies. This enhancement provides up to $50,000 for losses resulting from social engineering fraud, a prevalent form of cybercrime where perpetrators impersonate trusted contacts to manipulate payment instructions. - read more
CHU Underwriting Agencies has released its 2025 State of the Strata Market report, indicating a modest 2.8% increase in strata insurance premiums over the past year. This rise, from $954 to $981 per lot annually, aligns with a 3.4% growth in household incomes, suggesting that strata insurance remains affordable for apartment owners. - read more
CHU Underwriting Agencies has introduced significant enhancements to its residential strata insurance policies, focusing on built-in liability coverage and immediate price visibility. These reforms aim to make coverage more responsive to the realities of modern strata living and streamline the insurance process for brokers and clients alike. - read more
The Australian Prudential Regulation Authority (APRA) has recently emphasised the need for a significant enhancement in how financial institutions manage risks associated with artificial intelligence (AI). This directive comes in response to the rapid evolution and integration of AI technologies within the banking, insurance, and superannuation sectors. - read more
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Knowledgebase
Coverage: The amount of risk or liability covered for an individual or entity by way of insurance services.
