Social engineering fraud has become an increasingly common risk, affecting committee members and lot owners through everyday transactions such as invoices, levy notices, and supplier communications. By including this coverage, CHU aims to offer practical protection against these evolving threats.
Steve Tchepak, Head of Underwriting at CHU, emphasised the importance of adapting to the changing risk landscape: "Cyber threats are no longer abstract or confined to large organisations. They occur in everyday transactions, such as invoices, levy notices, and supplier communications."
This proactive measure reflects CHU's commitment to supporting strata communities by anticipating emerging risks and embedding practical protections into their policies. The inclusion of cyber fraud coverage underscores the necessity for strata schemes to be vigilant against digital threats and to ensure their insurance policies provide comprehensive protection in the modern era.
Please Note: If this information affects you or is relevant to your circumstances, seek advice from a licensed professional.
