CHU strengthens strata protection through Cyber cover

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.”

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