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.
For more information on the new strata legislation and regulations please follow the click the link Owners Corporations and Other Acts Amendment Act 2021.
Australia’s leading strata insurance specialist CHU and its digital underwriting agency Flex Insurance are waiving bushfire claim excesses for residential strata buildings, community associations and community association lot owner homes, contents and landlords for strata.
“This is a vital first step to help customers start to get their lives back on track,”
CHU CEO Bobby Lehane
In addition, CHU and Flex, in partnership with our insurer QBE, are helping customers by:
- Providing additional resources to process claims as quickly as possible.
- Deploying the CHU Assess team in heavily impacted areas to expedite the claims process.
- Organising emergency and temporary accommodation assistance.
For more information click here to download our FAQ document which may help you.
If you or your customers have any queries, please do not hesitate to contact us on our emergency hotline 1300 361 263 or lodge a claim online.
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