CHU Underwriting Agencies has today announced the inclusion of Cyber cover within its residential strata insurance policy, providing bodies corporate with protection against one of the fastest-growing risks facing the sector: social engineering fraud.
Automatically included for eligible policies, Cyber cover provides up to $50,000 for a single loss during the period of insurance, helping protect strata communities from financial loss caused by the fraudulent misdirection of funds.
Social engineering fraud, a form of cybercrime in which a third party impersonates a trusted contact to manipulate payment instructions, is an increasingly common threat impacting committee members and lot owners. CHU’s enhanced policy responds to this risk, offering practical, real-world protection where it matters most.
“This is about recognising how risk is evolving for strata communities,” said Head of Underwriting Steve Tchepak.
“Cyber threats are no longer abstract or confined to large organisations. They occur in everyday transactions, such as invoices, levy notices, and supplier communications.”
“By including Cyber cover as a standard feature, we are helping bodies corporate navigate this risk with greater confidence.”
The cover applies to loss resulting from social engineering fraud related to the body corporate’s usual activities. Reflecting the shared and interconnected nature of strata operations, it extends protection to office bearers, committee members and lot owners.
“This enhancement reflects CHU’s ongoing commitment to strengthening strata communities,” continued Steve. “By anticipating emerging risks and embedding practical protections into our policies, we continue to support brokers, strata managers and owners with solutions that evolve alongside the environment they operate in.”
CHU achieved a significant reduction in its Scope 1 and 2 carbon footprints, led by a transition to hybrid company fleet vehicles and reduced business travel.
CHU, Australia’s largest strata insurance underwriting agency, released its annual Sustainability Impact Report FY25, showcasing significant progress on climate and community impact goals.
CHU’s third annual report demonstrates a 20% reduction to the organisation’s carbon footprint, as well as the introduction of Building Resilience Services to further reduce CHU’s longer-term carbon emissions and improve the sustainability of CHU underwritten assets.
“Innovation, efficiency, and sustainability aren’t add-ons, they’re fundamental to how we serve strata communities and how we shape the future of our sector,” said CHU Chief Executive Officer Kimberley Jonsson.
“Our 2025 Sustainability report demonstrates our significant progress in moving towards carbon neutrality, addressing supply chain emissions, advancing our reconciliation journey, and expanding community volunteering.”
Progress on Climate Change Roadmap
CHU’s ESG strategy continues to align with the Insurance Council of Australia’s (ICA) Climate Change Roadmap, which provides a framework for the Australian insurance industry to achieve net-zero emissions.
The report showed CHU achieved a significant reduction in its Scope 1 and 2 carbon footprints, led by a transition to hybrid company fleet vehicles and reduced business travel. CHU maintained carbon neutrality by planting 2,664 trees through its partnership with the Forktree Project, which will sequester the equivalent carbon emissions over a 10-year period.
CHU has maintained Scope 1 and 2 carbon neutrality since FY2019. Reducing Scope 3 emissions remains a priority, with progress been made through the rollout of CHU’s Supplier Code of Conduct across the claims and underwriting supply chain.
Green Business Travel and hybrid fleet
CHU continued to reduce emissions through both its Green Business Travel initiatives and its fleet. In FY25, CHU reduced business travel by one-tenth (10%) from the previous year. The organisation as saw a sharp increase in the uptake of electric and hybrid rideshare options, with more than half (59%) of all rideshare trips taken in the last six months being electric or hybrid vehicles.
Petrol vehicle emissions reduced by 83 per cent over the year as the CHU vehicle fleet transitions to hybrid vehicles. CHU is on track to achieve a 100 per cent transition by 2026.
Launch of Building Resilience Services
In 2025, CHU launched Building Resilience Services, a division dedicated to supporting and safeguarding strata communities by providing proactive tools to manage property resilience before issues arise.
Building Resilience Services helps to extend the lifecycle of building assets through early issue detection, enabling strata communities to optimise resource use and plan long-term maintenance in ways that protect both their properties and the environment.
“I’m particularly excited about the potential Building Resilience Services will play in strengthening the resilience and sustainability of strata communities nationwide.,” Jonsson added.
Green Grant Program launch
CHU recently announced the launch of its Green Grant Program which will support sustainable initiatives within residential strata properties.
The Green Grant Program will award a total of $50,000 in its inaugural year to empower body corporates and property owners to implement sustainable initiatives that reduce their environmental footprint, improve energy efficiency and foster community involvement.
CHU remains committed to partnering with strata communities and industry stakeholders to improve climate resilience and deliver a more sustainable future for Australian strata living.
Outlining key industry statistics, trends and market forces shaping the strata industry.
CHU, Australia’s largest strata insurance underwriting agency, has released its 2025 State of the Strata Market outlining key industry statistics, trends and market forces shaping the strata industry.
The report highlights impact from economic pressures, regulatory reform and weather events. It investigates strata affordability, the frequency of weather events, strata regulator reforms, emerging risks and sustainability.
“Right now, one in ten Australians live in strata, with more than three million total lots across the country, and that number is only set to rise. As density increases, so do expectations. The strata sector has an opportunity to set a new standard for urban living across Australia.” said CHU Chief Executive Officer Kimberley Jonsson.
“The CHU 2025 State of the Strata Market sheds light on the key trends impacting the industry and how insurers, underwriters, brokers and strata managers can strengthen strata communities now and into the future.”
Affordability
While inflation has eased across the country, households are still dealing with increased costs that recent inflation has created, highlighting the topic of affordability.
The CHU 2025 State of the Strata Market shows strata insurance premiums rose just 2.8% in the twelve months to June 2025 – from $954 to $981 per lot annually – while household incomes grew 3.4%, maintaining insurance affordability for apartment owners.
In contrast, house insurance premiums surged 14%, five times faster than strata premiums, driven by concentrated climate risks and structural vulnerabilities in standalone properties.
“In real terms, strata insurance remains affordable, which is great news for strata owners and for the wider industry. This is an opportunity for strata managers and brokers to help communicate to owners that, while premiums may grow, they are remaining relatively affordable,” said Ms Jonsson.
Weather events
In 2025, Australia experienced a series of weather events that underscore the climate risk faced by strata. Catastrophes intensify pressure on communities, insurers, and governments to accelerate support, resilience and risk-mitigation measures.
The climate risk faced by strata is demonstrated by the range of cyclones, floods and storms in the first six months of this year, including Tropical Cyclone Zelia, Ex-Tropical Cyclone Alfred and widespread flooding across multiple states.
Despite these challenges, the September 2025 review of the Australian Reinsurance Pool Corporation’s Cyclone Pool confirmed premiums for strata properties would remain unchanged, with the review finding overall pricing adequate.
Regulation and legislation
Regulatory reviews across three states and territories representing 40% of Australia’s strata titles are bringing sharper focus to transparency, consumer protections, and professional standards.
New South Wales has introduced tougher accountability measures for strata managers, including standardised maintenance planning, greater conflict disclosure, and stronger hardship protections.
Western Australia is moving toward professionalisation of strata management with proposed Certificate IV qualifications and defined role structures, while the ACT is reviewing potential reforms including licensing requirements.
“When standards are formalised in regulation, it provides all of us in the industry, along with owners and committees, confidence in the consistent standard of service in strata.”
“I believe professionalisation is the way forward for the strata sector. It’s recognition that what strata managers do requires expertise, judgement and professional accountability,” Ms Jonsson added.
Buildings, safety and risk
Defects and cladding remain a pressure point for the industry, with new precedents tightening builder accountability. The 2025 NSW Strata Defects Survey opened to collect data on how defects including cladding, and maintenance management is evolving and where stronger regulation may be needed.
Another significant safety concern has become lithium-ion batteries. Western Australia’s fire service confirmed 94 lithium battery fires by August 2025. In NSW alone, 25 had already occurred by February 2025, highlighting the significance of this risk. Regulators have issued new safety guidelines, and many strata managers are now embedding formal battery management policies.
Looking forward to 2026
The report signals that affordability, climate resilience and regulatory compliance will remain central themes for the sector, with major reforms scheduled in NSW, the completion of Western Australia’s five-year strata law review, and the next ARPC Cyclone Pool assessment expected in late 2026.
Examining the attitudes, perceptions and behaviours of owners in strata across Australia.
CHU, Australia’s largest strata insurance underwriting agency, has released the inaugural CHU Strata Index, a comprehensive study examining the attitudes, perceptions and behaviours of owners in strata across Australia.
The research surveyed 1,000 owners involved in their Owners Corporation across Australia, finding there are significant building maintenance gaps as more than one quarter (28%) of properties are checked irregularly, or not at all.
The research also revealed opportunities for strata professionals to strengthen their role as both educators and trusted partners. While almost half (40%) of owners see strata managers as essential to making property management easier, respondents voiced their opinions on the value and cost of strata managers. The findings point to clear opportunities for strata managers to build on this foundation by adapting how they communicate their value to owners.
“Our new research reveals an opportunity for strata professionals to shift their mindset, from service providers to business partners who provide critical information and support. When owners understand how maintenance, insurance, and professional management protect their investment, everyone benefits. That’s the future of resilient and healthy strata communities.”
Kimberley Jonsson, Chief Executive Officer, CHU
Maintenance gaps across Australian strata schemes
The Index uncovered a maintenance crisis waiting to happen. One quarter (28%) of properties are checked irregularly — or not at all — for maintenance issues, and over a third (35%) don’t have a maintenance action plan in place. These gaps signal future building risks and financial shocks for Owners Corporations, as unaddressed maintenance can escalate into major repairs.
“Proper maintenance is one of the keys to more resilient communities. I believe maintenance is just as much of an investment in safeguarding communities as insurance is”, Ms Jonsson said. “Every strata professional has a role to play, starting with helping owners understand what good building maintenance looks like and how their decisions affect resilience, risk management and long-term value. By doing so, we can all contribute to strengthening strata communities”
Attitudes to strata management
The research reveals a varied relationship between owners and strata managers, highlighting an opportunity for strata managers to articulate the value of their work, and to support education of owners.
Almost half of respondents (40%) are supporters of strata managers and believe they make property management easier for owners, while 43% believe strata managers are essential for handling complex compliance and safety issues. When asked why they work with strata managers, half (50%) recognise their work ensuring regulatory and safety needs are met for their buildings. However, many are concerned with fees as almost half (40%) of respondents perceive strata manager fees as too high for the value received.
Understanding and perceptions vary across different property types and values. One third of respondents (32%) believe strata managers are unnecessary for property management tasks, while another third (34%) believe complex compliance and safety issues could be handled by owners without a strata manager.
“This data shows some owners are yet to recognise the role strata managers play as partners, supporting the community they live in. Those communities that recognise this value and tap into the expertise and capabilities of their strata managers, are more likely to be regularly maintained, compliant and safe communities. These are all qualities of healthy strata,” added Ms Jonsson.
Attitudes towards strata insurance
Appropriate strata insurance cover is critical to protect shared properties and foster more resilient communities, yet it remains one of the least understood aspects of strata ownership.
The Index found gaps in insurance understanding, with more than one-third (39%) of respondents wanting only the bare minimum insurance coverage, while nearly one-fifth (17%) are unsure how their strata insurance is purchased.
The findings suggest many owners don’t understand the complexity of strata insurance or the risks of underinsurance, or view insurance as essential protection for their investment.
The research showed these attitudes shift when strata managers and brokers are involved in the insurance process. In these instances, owner satisfaction rates increase, demonstrating a clear opportunity for strata professionals to build trust and support owners as they navigate this critical area.
CHU has always embraced environmental sustainability as a core pillar of our business. As part of our commitment to build a more sustainable and resilient strata community, we are pleased to release our FY24 Sustainability Impact Report, capturing the progress we’ve made from 1 July 2023 to 30 June 2024, towards our sustainability commitments and the future goal of full scope net-zero.
Over the past year, we were honoured to receive the ANZIIF 20th Australian Insurance Industry Award for Excellence in Environmental, Social, and Governance Change. This recognition is a testament to our team’s dedication and the strides we’ve taken to reduce our environmental impact while enhancing the resilience of strata communities.
A Closer Look at Our Sustainability Milestones in FY24
Builders Panel Initiative:
This year, we established a Builders Panel with 40 builders selected from over 90 companies, ensuring that each aligns with CHU’s sustainability vision. By partnering with builders who prioritise sustainability and are committed to the same goals, we have commenced the pathway towards achieving Scope 3 carbon emissions reductions and offsetting and championing the positive change across the strata industry.
Full Scope Net Zero Goals:
We’ve mapped our goals against the Insurance Council of Australia’s (ICA) Climate Change Roadmap, keeping us on track to meet and exceed industry set targets.
Continued to reduce and offset our scope 1& 2 emissions:
CHU has been Scope 1 & 2 carbon neutral for the past 4 years. We continue to make changes within our business such as transition to hybrid vehicles, choose green options when travelling and in our procurement of marketing collateral and planting trees with ForkTree in South Australia to offset any remaining carbon emissions.
Sustainability Impact Report FY2024
Our report tracks our progress and achievements in the FY24 period Using the Global Reporting Initiative (GRI) framework, the report is structured into four key areas: Planet, People, Prosperity, and Partnership.
Each section highlights our actions and progress across the organisation, based on data collected annually from all business units. This year’s report also integrates the Insurance Council of Australia (ICA) roadmap and continues to reflect our Sustainability CHARTER, which sets out our sustainability goals.
Our customers are central to every decision we make, and building a better, greener and brighter future will benefit the whole community.
We invite you to read our FY24 Sustainability Impact Report, this is a road we all must take, so we will continue to innovate and make positive changes that will lead us towards our net-zero goal.
CHU’s annual “State of the Strata Market Report” 2024 edition (October 2024) is now live.
This comprehensive report delves into the key factors shaping the strata market, focusing on insurance affordability, climate threats and strategies to mitigate risks in strata. It provides a balanced and realistic outlook for the remainder of 2024 and beyond. This report aims to deliver valuable insights for brokers, strata managers, and the broader strata community.
CHU, the leading underwriting agency for strata insurance in Australia, is delighted to announce the continuation of its relationship with QBE Australia. The new agreement facilitates QBE as the capacity provider for CHU’s policies over the next decade, reinforcing CHU’s leadership position in the strata insurance market.
QBE’s expertise and strong commitment to the Australian insurance sector will support CHU’s offerings, providing stability and robust support to the strata community. This long-term commitment underscores mutual trust and a shared dedication to meet the evolving needs of strata customers.
Kimberley Jonsson, CEO of CHU, expressed enthusiasm about the renewed relationship, stating, “We are proud to continue our longstanding relationship with QBE. Their support as our insurer has been instrumental in our ability to deliver stability and exceptional service to our customers.”
Sue Houghton, CEO of QBE Australia Pacific, said QBE was pleased to remain CHU’s insurance provider.
“We remain committed to working collaboratively with CHU to ensure a sustainable and successful relationship.”
The relationship between CHU and QBE has long been a cornerstone of CHU’s offering, enhancing its stability and resilience within the market.
Robert B Kelly AM, Founder, Managing Director, and CEO of Steadfast Group, which owns CHU, says the new 10 year total agreement not only signifies a milestone in CHU and QBE’s collaborative history but also sets a positive trajectory for the future.
“Strong and strategic partnerships have always been instrumental to Steadfast Group and the wider insurance industry,” Mr Kelly says. “We’re pleased to see the continuation of this successful relationship, enabling CHU to continue providing its superior and award-winning insurance services within the strata sector.”
CHU is owned by the largest insurance underwriting agency group in Australasia, Steadfast Underwriting Agencies, which operates 30 agencies and manages over 100 products. These agencies play a critical role in the development and distribution of specialised insurance solutions both within and beyond the Steadfast broker network.
This year CHU has achieved the incredible milestone of celebrating its 45th Anniversary.
From humble beginnings in 1978, CHU has grown to become one of the largest strata underwriting agencies in Australia, winning multiple awards including ANZIIF’s ‘Underwriting Agency of the Year’ Award for 2021, 2022 and 2023.
CHU’s CEO, Kimberley Jonsson, who first joined CHU in 2005 as part of the South Australian team and appointed CEO in 2020, has played a pivotal role in CHU’s exceptional growth.
“Our journey at CHU has been nothing short of extraordinary. Looking back on the past 45 years, I am incredibly proud of our collective achievements, CHU’s success is a testament to each and every team member who has contributed in their own unique way.” says Kimberley Jonsson.
The CHU footprint has expanded to encompass 290 team members, in 6 offices, across 2 countries, Australia and Manila.
CHU’s portfolio now incorporates multiple brands including Flex Insurance and CHU Services which encompasses CHU Assess, CHU Consult and CHU Inspect.
One of the key contributors to CHU’s ongoing success is its people and culture. CHU’s people-first approach has ensured that even through growth and expansion it has kept its essence of fun, friendliness and spirit which can’t easily be replicated.
Additionally, CHU wouldn’t be where it is today without the support of its amazing clients and partners, some whom have been on the journey with CHU from the start. Through its client network of brokers and strata managers, CHU has over 120,000 insurance policies in place, protecting almost 1 million apartments.
“I’m genuinely grateful for the ongoing support our customers provide to us and its due to the strengths of these relationships that we will still be here in another 45 years.” says Kimberley Jonsson.
To commemorate the 45th Anniversary, CHU has commissioned a unique piece of aboriginal artwork from Wiradjuri Woman and Aboriginal Artist Lua Pellegrini. This digital artwork will feature across our 45th-anniversary event collateral including invitations, menu, email signatures for the remainder of 2023.
About the artist:
CHU was introduced to Lua Pellegrini via the GO Foundation as a former GO scholarship recipient. Lua was recently named as a finalist for 2023 NSW Young Women of the Year.
A proud Wiradjuri woman, Lua grew up on Darug Country, and is currently at UNSW studying a Bachelor of Fine Arts/Arts, majoring in Indigenous Studies.
At only 21 years of age, Lua Pellegrini has already been recognised for her exceptional talent as an artist, having designed the Sydney Swans Marn Grook guernsey in 2022, which told the story of the 19 Aboriginal and Torres Strait Islander players who have represented the Swans.
Lua was the 2021-2022 Chairperson of the NSW Youth Advisory Council and continues to mentor young Aboriginal women in schools and volunteers across a number of charities that support First Nations youth.
About the artwork:
The artwork focuses on the connections that we share, as people are at the heart of what CHU do. The work represents the diversity and vibrancy of community and the connection that we share with one another as part of our own communities that provide us with safety, love, and care. The core symbols in the work of the various circles represent meeting places with the semi-circles surrounding representing people coming together. The blue within the work is a nod to the sapphire as CHU celebrates its 45-year anniversary.
It also connects the work to the physical environment of CHU’s Sydney Office which overlooks the Sydney Harbour estuary an important section of Country that was relied on for resources and a place of gathering for First Nations communities within the Sydney basin.
Leading strata insurance specialist CHU has again won the Underwriting Agency of the Year Award at the Australian Insurance Industry Awards after taking out the award in 2021 and 2022. This award recognises an Australian underwriting agency that has demonstrated excellent technical skills, strong underwriting results and outstanding customer service.
“This win is validation of our strategic direction and efforts to lead the industry. We are truly humbled to receive this prestigious award once again.”
CHU CEO Kimberley Jonsson
“We are all extremely proud of what we achieved in 2022. It was a massive year of growth, development, innovation and importantly, giving back to our people and our community.”
The Judges remarked that CHU stood head and shoulders above an already excellent field of contenders, with its best practice approach to people development, industry contribution and strong focus on community work and environmental strategy. CHU was highly commended for its improvements to its services including a dedicated catastrophe response team and technology enhancements. Additionally for its sophisticated education and training programs for brokers and strata managers, its CHUniversity L&D initiative for internal staff, and the company’s FUCHURE CHU initiative. The judges also applauded CHU for its continued efforts to offset emissions, including building a 60 per cent electric or hybrid fleet and funding the planting of trees.
“We intend to continue as thought leaders within our industry, through sustainable business practices, innovation and collaborative partnerships. The future is bright for CHU, and we will continue to act with integrity, build strong relationships and work towards a sustainable future for the whole community.”
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CHU is pleased to announce that its strata and build to rent portfolios will be entering the ARPC Cyclone Reinsurance Pool in July 2023.
CHU’s residential and commercial strata portfolios, FLEX’s strata portfolio and CHU’s Build to Rent portfolio will all go live at this time. This means for eligible new business and renewals with an effective date of 29 July 2023 will participate in the pool*.
“CHU welcomes measures that assist property owners with affordability and access to suitable insurance products,” CHU CEO Kimberley Jonsson explained, “CHU understands the financial stress individual householders are under with rising inflation and cost of living pressures, and this is a positive step towards alleviating these pressures in some instances.”
The criteria for eligibility under the Pool for strata schemes is:
Residential strata schemes (including mixed use schemes where 50% or more floorspace is used for residential purposes)
Commercial strata schemes where the combined building sum insured and common area contents value does not exceed $5M.
“It has been a long journey,” commented Steve Tchepak, Head of Underwriting at CHU, “We knew the deadline for participation would be challenging. The amount of work required in reconfiguring pricing calculations, implications on reinsurance, updates to systems was and continues to be substantial. We are pleased that any pricing benefits from the cyclone pool can now flow on to customers.”
CHU’s remaining portfolios of Community Association, Lot Owner Homes, Contents and Landlords for strata will join the Pool towards the end of 2023.
*Large insurers including QBE, CHU’s underwriter, have until 31st December 2023 to include eligible policies.
Once again, Brokers across Australia have voted CHU Underwriting Agencies the top award for Strata Cover in the annual broker survey conducted by Insurance Business Magazine.
This will be the fifth time that CHU, has been awarded the gold medal for these awards.
CHU CEO Kimberley Jonsson said:
“This award is particularly special, as it is recognition that comes directly from our key customers. I would like to personally thank all the brokers who voted for us and appreciate their continued support as we grow CHU to meet the rising demand and challenging market conditions. I would also like to thank the CHU team who are always customer focused in everything they do, from underwriting all the way through to claims.”
Kimberley Jonsson, CEO, CHU
CHU, one of Australia’s largest and most awarded underwriting agencies has been in the strata insurance business for over 40 years. Winning this award is further confirmation of the importance brokers place on specialist knowledge when it comes to working with underwriting agencies.
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The soon to be implemented Owners Corporations and Other Acts Amendment Act 2021, requires that all Owners Corporations located in Victoria must hold a minimum of $20 million for Public Liability insurance from 1st December 2021.
CHU welcomes this reform to the Victorian strata laws increasing the requirement of each Owners Corporation to have increased liability cover.
As such, from 1st December, CHU is pleased to advise an automatic increase to the $20 million minimum liability insurance limit for all CHU Victoria strata insurance policies that currently have less than the required $20 million. This will be at no extra cost to the Owners Corporation.
The new limit of $20 million liability cover will apply to all current polices, new business quotations and renewals, with effect from 1st December 2021.