CHU Strengthens Strata Insurance with Built-in Liability and Immediate Price Visibility
Innovative Policy Reforms and Pricing Tools Enhance Strata Insurance Experience
0
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
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.
A central feature of the update is the inclusion of built-in liability coverage, designed to bridge gaps in coverage and ensure strata owners are better protected. This enhancement reflects CHU's commitment to evolving insurance solutions in line with customer needs.
In addition to policy enhancements, CHU has launched an indicative pricing feature that provides brokers with immediate, non-binding premium estimates. This tool improves visibility and reduces delays in the quoting process, allowing brokers to deliver better outcomes for their clients and spend more time supporting strata communities.
These innovations have earned CHU recognition as one of Insurance Business' 5-Star Insurance Innovators for 2025, underscoring the company's dedication to practical improvements that respond to customer needs. By addressing bottlenecks in both coverage and process, CHU continues to support brokers, strata managers, and owners with solutions that evolve alongside the environment they operate in.
Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.
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
