CHU Expands Strata Insurance Capacity to Support Larger Developments
Enhanced Coverage Limits Meet the Needs of Growing Strata Projects
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CHU Underwriting Agencies has announced a significant increase in its single risk capacity, raising the limit to $690 million from the previous $300 million.
This substantial enhancement enables CHU to better support larger residential and commercial strata developments across Australia.
Kimberley Jonsson, CHU's Chief Executive Officer, highlighted the growing trend of larger strata developments and the importance of providing adequate insurance solutions to meet this demand. The increased capacity allows CHU to offer more flexible and comprehensive coverage options, catering to the evolving needs of the strata sector.
This development is particularly beneficial for strata managers and property owners involved in large-scale projects, as it provides greater assurance that their assets are adequately protected. The ability to independently insure higher-value risks and participate in larger co-insurance arrangements positions CHU as a leading provider in the strata insurance market.
Strata communities are encouraged to assess their current insurance coverage and consider the advantages of partnering with insurers capable of accommodating the complexities of larger developments. CHU's expanded capacity reflects its commitment to supporting the growth and resilience of Australia's strata sector.
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Knowledgebase
Insurance Deductible: the amount that an insured is required to contribute toward an insurance claim as stipulated in an insurance policy. Otherwise known as the "policy excess".
