13 Aug 2018

Change in Residential Strata Insurance Plan minimum excess Effective 15 October 2018

Following a review of our current excess structure for CHU’s Residential Strata Insurance Plan, our minimum excess will be increasing from $300 to $500 for all renewals due on or after 15 October 2018.

This change takes into account:

recognition of the increasing cost of claims in the market generally
encouraging Body Corporates / Owners Corporations to play a more active role in risk funding
keeping our pricing economical.

If you have any questions regarding this change, please contact your local CHU branch.

Regards

Peter Jones
National Underwriting Manager
CHU Underwriting Agencies Pty Ltd

CHU Underwriting Agencies Pty Ltd (ABN 18 001 580 070, AFS Licence No: 243261) acts under a binding authority as agent of the insurer QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFS Licence No: 239545).

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CHU Underwriting Agencies is a wholly owned subsidiary of Steadfast Group Ltd (ABN 98 073 659 677) (‘SGL’). SGL may receive a professional services fee (PSF) from insurers, premium funders and underwriting agencies such as CHU Underwriting Agencies (Partner) for access to regulatory and compliance support; marketing and communications; data insights; and access to technology platforms. The PSF is an agreed amount between SGL and the relevant Partner, usually annually. The PSF is not determined by the volume of the business that the Steadfast Network brokers place, nor is the amount of the PSF known to the Steadfast Network Brokers, so it is not able to influence recommendations to their clients. CHU Underwriting Agencies may have access to shared services from SGL, including: compliance tools; procedures; manuals and training; legal; HR banking; and group purchasing arrangements. These services are funded by SGL, subsidised by SGL or SGL receives a fee for them. SGL’s FSG is available at www.steadfast.com.au or on request by telephoning SGL’s Company Secretary on +61 2 9495 6500.

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