Get a quote
Skip to Main Content
Flex Insurance
Manage my policy Get a quote
StrataTech login
04 Jul 2024

Announcement: Flex Insurance enters into binding authority from certain underwriters at Lloyd’s

Following five years in the Australian residential strata market, Flex Insurance has secured a significant underwriting binder with a Lloyd’s syndicate. The underwriting capacity is poised to drive growth and enhanced capability in the strata insurance market. 

Since its inception, Flex Insurance has become a leading provider of residential strata insurance in Australia. Flex Insurance offers fast and flexible residential strata insurance to insurance brokers and authorised representatives.  

Effective 1 September 2024, Flex Insurance policies with sums insured up to $25 million will be underwritten by certain underwriters at Lloyd’s.  

Flex’s larger strata policies with sums insured of $25 million and above will continue to be underwritten by QBE, maintaining Flex’s strong relationship with one of Australia’s largest insurance companies. 

CHU Underwriting Agencies CEO Kimberley Jonsson said, “This underwriting capacity further strengthens Flex Insurance’s position as a dynamic player in the insurance industry, it also empowers our customers with greater choice and flexibility when it comes to selecting a strata insurance policy.”  

This collaboration underscores Flex Insurance’s commitment to delivering robust and flexible insurance solutions to meet the market needs at every level. 

Frank Scamarcia, General Manager of Flex Insurance, is excited about this next phase, stating, “We are thrilled to welcome Lloyd’s as a new capital provider alongside QBE. This positions us for sustained growth and innovation. Flex Insurance will continue to provide brokers, strata managers and strata owners with an innovative product that meets their needs and is adaptable to the evolving market.” 

Lloyd’s is the world’s specialist insurance and reinsurance market with expertise since 1688. With Lloyd’s underwriters securing its small to medium-sized strata policies, Flex Insurance will continue to grow the business and develop innovative products and services for the strata market in Australia.  

CHUiSAVER Underwriting Agency Pty Ltd (ABN 85 613 645 239, AFSL 491113) trading as Flex Insurance acts under a binding authority as an agent for certain underwriters at Lloyd’s and QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545), the insurers of the products.

Terms, conditions, limits and exclusions apply to the products referred to above. Any advice contained on this website is general advice only and has been prepared without taking into account your objectives, financial situation or needs. Before making a decision to purchase the product or to continue to hold the product we recommend that you consider whether it is appropriate for your circumstances and read the Product Disclosure Statement (‘PDS’), Target Market Determination (‘TMD’) and Financial Services Guide (‘FSG’), which can be which can be viewed on this website or obtained by contacting Flex Insurance directly.

Flex Insurance is a wholly owned subsidiary of CHU Underwriting Agencies Pty Ltd (ABN 18 001 580 070, AFSL 243261) (‘CHU’). CHU 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 Flex Insurance and CHU (‘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.

Flex Insurance 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.

Copyright © 2024 CHUiSAVER Underwriting Agencies Pty Ltd