CHU Strata Insurance - New Flood Definition

Flood Update April 2013

Following the natural disasters and severe flooding in Australia during 2010/11 the Federal Government, after consultation with industry and the community, is undertaking a number of efforts, including new legislation, to make flood insurance simpler and more effective.

CHU advise they are committed to meeting the needs of their stakeholders and keeping them informed of its rollout plans, key dates, actions and impacts

As legislated, CHU will be inlcuding the Standard Definition with all their products insurance contracts on renewal and new business from 19 June 2013.  The inclusion of a Standard Definition does not impact current coverage provided.

Click here to see Supplementary Product Disclosure Statement which outlines new definition of 'Flood'