CHU Expands Strata Insurance Capacity to Support Larger Developments
Meeting the Needs of Australia's Growing Strata Sector
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CHU Underwriting Agencies, Australia's largest strata insurance underwriting agency, has announced a significant increase in its single risk capacity, more than doubling it to $690 million.
This substantial enhancement reflects CHU's commitment to accommodating the evolving landscape of strata developments across the nation.
Effective immediately, this increased capacity applies to both residential and commercial strata properties. Kimberley Jonsson, CHU's Chief Executive Officer, highlighted the trend of strata developments becoming larger in size and unit volume. She expressed enthusiasm for the opportunity to provide insurance solutions to a broader customer base living in strata communities.
This development allows CHU to independently offer quotes for larger risks and to place larger shares in existing co-insurance arrangements when necessary. The expanded capacity encompasses all property-related covers under a single insurance policy, including insured property, catastrophe cover, and lot owners' fixtures and improvements. This enhancement positions CHU to better serve the needs of larger strata developments, offering more comprehensive and flexible insurance solutions.
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