Kimberley Jonsson, CEO of CHU, highlighted the importance of this development, noting that the trend towards larger strata properties necessitates enhanced insurance solutions. By doubling its capacity, CHU aims to provide comprehensive coverage options for both residential and commercial strata developments, ensuring that property owners and managers have access to adequate protection.
This expansion allows CHU to independently offer quotes for larger risks and participate more substantially in co-insurance arrangements. The move is expected to introduce greater choice and flexibility for customers, addressing a previously underserved segment of the market.
In addition to increasing its underwriting capacity, CHU has introduced an indicative pricing feature designed to streamline the quoting process for brokers. This tool provides non-binding premium estimates, enabling brokers to assess potential costs before initiating a full underwriting assessment. The feature is part of CHU's commitment to enhancing efficiency and transparency within the strata insurance sector.
For strata property owners and managers, these developments signify a more robust and responsive insurance market. The increased capacity and improved tools offered by CHU are poised to meet the demands of larger strata developments, ensuring that comprehensive and competitive insurance solutions are readily available.
