CGU building insurance: what each policy covers, and who underwrites it
4 building policies from CGU. For each: whether flood and accidental damage are covered, and what happens once the building is left empty, with the sentence from its own documents. Underwritten by CGU Australia Pty Ltd.
- Website
- cgu.com.au/
- What it is
- Brand
- Listed on
- Apartment and unit buildings (strata), Business premises and property owners, Factories, warehouses and large property (ISR)
- Underwriter
- CGU Australia Pty Ltd
- APRA
- Authorised by APRA to write new general insurance (listed as CGU Australia Pty Ltd)
Building policies
CGU Business Pack (Business Insurance)
- Type
- Business property · Commercial
- Sold
- Through a broker
- Flood
- Included
- Left empty
- No cover after 90 days. Unless CGU agreed in writing.
- Documents
- Business Insurance PDS and Policy Booklet (CV671 rev8, August 2025) (1 August 2025) · Target Market Determination TMDBU001 (IAG index, Business) (5 October 2021)
- Quotes are only through brokers (the CGU page says CGU is an intermediated brand; online quoting is via broker platforms).
- The PDS delays flood, bushfire/grassfire and named-cyclone cover for 72 hours from the start of the policy.
- Section 1 Property covers buildings, contents and stock; the sections are chosen on the Certificate of Insurance.
- The TMD that CGU links (TMDBU001) covers only the retail sections (motor vehicle, personal accident), not the property section, so no eligibility limits could be quoted.
The policy
“Comprehensive cover for small business owners to protect what they’ve built, so they can focus on what’s next.”
Source: cgu.com.au/insurance/business/business-pack · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“CGU is an intermediated insurance brand.”
Source: cgu.com.au/insurance/business/business-pack · Confirmed on the insurer's page on 13 November 2026.
Flood
“We will not provide any cover, for a period of 72 hours from the time of the commencement of Your insurance, for Damage or loss caused by: a) bushfire or grassfire, b) a named cyclone, c) Flood, or d) Storm Surge.”
Source: cgu.com.au/content/dam/insurance-brands-aus/cgu/au/en/documents/policy-booklets/cgu-business-pds-cv671-rev8-0525.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“Unless We otherwise agree in writing, We will not pay for any loss or Damage to Property Insured if the occurrence happens whilst Your Business Premises has been unoccupied for more than 90 consecutive days.”
Source: cgu.com.au/content/dam/insurance-brands-aus/cgu/au/en/documents/policy-booklets/cgu-business-pds-cv671-rev8-0525.pdf · Confirmed on the insurer's page on 13 November 2026.
CGU Property Owner Insurance
- Type
- Commercial landlord · Commercial
- Sold
- Through a broker
- Flood
- Included
- Left empty
- No cover after 90 days. Unless CGU agreed in writing. Wording refers to Your Business Premises; it does not say how it applies between tenants.
- Who it is for
- Owners of commercial properties (CGU markets the same Business Insurance PDS to property owners).
- Documents
- Business Insurance PDS and Policy Booklet (CV671 rev8, August 2025) (1 August 2025)
- This is the property section of the same CGU Business Insurance policy, not a separate policy.
The policy
“Protecting Commercial properties you own now and for the future is easy.”
Source: cgu.com.au/business/property-owner · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“As of 21 May 2026, CGU no longer offers new Business insurance, Motor Trade, Professional Indemnity or Information and Communication Technology Liability insurance directly to customers. CGU Business, Motor Trade, Professional Indemnity or Information and Communication Technology Liability insurance remains available through our brokers .”
Source: cgu.com.au/policy-booklets · Confirmed on the insurer's page on 13 November 2026.
Flood
“We will not provide any cover, for a period of 72 hours from the time of the commencement of Your insurance, for Damage or loss caused by: a) bushfire or grassfire, b) a named cyclone, c) Flood, or d) Storm Surge.”
Source: cgu.com.au/content/dam/insurance-brands-aus/cgu/au/en/documents/policy-booklets/cgu-business-pds-cv671-rev8-0525.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“Unless We otherwise agree in writing, We will not pay for any loss or Damage to Property Insured if the occurrence happens whilst Your Business Premises has been unoccupied for more than 90 consecutive days.”
Source: cgu.com.au/content/dam/insurance-brands-aus/cgu/au/en/documents/policy-booklets/cgu-business-pds-cv671-rev8-0525.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“Protecting Commercial properties you own now and for the future is easy.”
Source: cgu.com.au/business/property-owner · Confirmed on the insurer's page on 13 November 2026.
CGU Industrial Special Risk
- Type
- Industrial special risks (ISR) · Industrial
- Sold
- Not stated
- Underwriter
- Insurance Australia Limited
- Left empty
- Not stated.
- CGU's public site gives no ISR product page, eligibility or wording; the only first-party evidence is the broker key-contacts sheet listing an Industrial Special Risk underwriting team.
The policy
“INDUSTRIAL SPECIAL RISK (01R / 05A) Support Services Team”
Source: cgu.com.au/documents/brokers/contact-sheet/qld · Confirmed on the insurer's page on 13 November 2026.
Underwriter
“For all other policies not referred to above, including any policies sold by business partners in all locations, the insurer is Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 under the CGU brand.”
Source: cgu.com.au/business/industrial-specialised-risks · Confirmed on the insurer's page on 13 November 2026.
CGU Commercial Strata Insurance
- Type
- Commercial strata · Commercial
- Sold
- Through a broker
- Flood
- Optional extra
- Accidental damage
- Not stated
- Left empty
- Not stated.
- Who it is for
- Strata-titled entities insuring buildings used predominantly for commercial purposes (retail shops, offices, factory units); not residential buildings or individual unit owners.
- Documents
- Target Market Determination TMDCS001 (Commercial Strata) (19 December 2025)
- No CGU-published commercial strata PDS or product page was found; the product is evidenced by its Target Market Determination, which states it is distributed through distributors including brokers.
The policy
“This Target Market Determination (TMD) applies to Commercial Strata Insurance products.”
Source: iag.com.au/content/dam/corporate-iag/iag-aus/au/en/documents/tmd/iag-tmdcs001-rev4-1225.pdf · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“This product is designed to be distributed by our distributors (including brokers) by any of the following means, where authorised: – Online through relevant websites – By contacting a branch or contact centre – In person (e.g. branch, agency or premises visit)”
Source: iag.com.au/content/dam/corporate-iag/iag-aus/au/en/documents/tmd/iag-tmdcs001-rev4-1225.pdf · Confirmed on the insurer's page on 13 November 2026.
Flood
“Are seeking optional covers such as Flood, Machinery Breakdown or Electronic Equipment”
Source: iag.com.au/content/dam/corporate-iag/iag-aus/au/en/documents/tmd/iag-tmdcs001-rev4-1225.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“The Building is predominantly used for commercial purposes”
Source: iag.com.au/content/dam/corporate-iag/iag-aus/au/en/documents/tmd/iag-tmdcs001-rev4-1225.pdf · Confirmed on the insurer's page on 13 November 2026.
Who underwrites and sells it
Underwriter
“For all policies sold by brokers and underwriting agencies in all locations the insurer is CGU Australia Pty Ltd ABN 62 004 478 960 AFSL 700014 trading as CGU Insurance.”
Source: cgu.com.au/small-business · Confirmed on the insurer's page on 13 November 2026.
CGU Australia Pty Ltd: licence
- AFS licence
- 700014 · CGU AUSTRALIA PTY LTD
- ABN
- 62004478960
- Licensed since
- 9 May 2025
- Principal business
- Melbourne VIC 3000
- General insurance
- Licensed to deal in general insurance products
From ASIC's AFS Licensee dataset, release of 11 November 2026, Creative Commons Attribution 3.0 Australia.
Deep Almanac is a secondary source and this page is provided for general information and reference. It is not financial, investment, legal, valuation, educational or other professional advice, and it is not a substitute for checking the original source. What each policy covers and who underwrites it are read from each insurer's own documents by hand and re-checked daily, so a change can take a day to appear, and the policy wording you are issued is what applies to you. You are responsible for any decision you or your software makes in reliance on this page. See our terms of use.