Flex Insurance building insurance: what each policy covers, and who underwrites it
2 building policies from Flex Insurance. 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 Lloyd's underwriters and QBE Insurance (Australia) Limited.
- Website
- flexinsurance.com.au/
- What it is
- Underwriting agency
- Listed on
- Apartment and unit buildings (strata)
- Underwriter
- Lloyd's underwriters and QBE Insurance (Australia) Limited
- APRA
- Lloyd's underwriters, which APRA lists separately
Authorised by APRA to write new general insurance (listed as QBE Insurance (Australia) Limited) - Sold by
- CHUiSAVER Underwriting Agency Pty Ltd (trading as Flex Insurance) · AFSL 491113
Building policies
Flexible Residential Strata Plan Insurance (Flex)
- Type
- Residential strata · Residential
- Sold
- Direct or through a broker
- Levels of cover
- Flex Essential, Flex Plus
- Flood
- Included, can be removed
- Accidental damage
- Not stated
- Left empty
- Extra $2,500 excess. No day count: applies to Section 1 claims when 50% or more of the available lots are unoccupied at the time of loss.
- Who it is for
- Bodies corporate / owners corporations of residential strata property with less than 20% of floor space used commercially.
- Documents
- Residential Strata PDS (October 2023, QBE edition) (1 October 2023) · Flexible Residential Strata TMD (effective 1 July 2026) (1 July 2026) · Supplementary PDS (1 January 2026) (1 January 2026)
- The 2026 TMD (policy ref AX 00010825) names certain underwriters at Lloyd's; the October 2023 PDS names QBE. Check which edition applies.
The policy
“Flex gives you the freedom to tailor your residential strata insurance to suit your building’s needs and budget.”
Source: flexinsurance.com.au/ · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“This product can only be sold by CHUiSAVER Underwriting Agency Pty Ltd ABN 85 613 645 239 (AFS Licence No: 491113) trading as Flex Insurance via an authorised representative, an insurance broker or can be sold directly to the public.”
Source: flexinsurance.com.au/assets/Documents/Flex_FlexibleResidentialStrata_TMD_072026.pdf · Confirmed on the insurer's page on 13 November 2026.
Flood
“We provide cover for Damage to Your Insured Property for Flood unless endorsed otherwise in the Schedule.”
Source: flexinsurance.com.au/assets/Documents/Flex_ResidentialStrataPDS_1023.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“An Excess of $2,500 will apply to Section 1 claims if 50% or more of the available Lots/Units are unoccupied at the time of loss.”
Source: flexinsurance.com.au/assets/Documents/Flex_ResidentialStrataPDS_1023.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“where less than 20% of the floor space is used for commercial purposes.”
Source: flexinsurance.com.au/assets/Documents/Flex_FlexibleResidentialStrata_TMD_072026.pdf · Confirmed on the insurer's page on 13 November 2026.
Flex Complex Strata Insurance
- Type
- Commercial strata · Commercial
- Sold
- Through a broker
- Flood
- Included, can be removed
- Accidental damage
- Not stated
- Left empty
- Extra $5,000 excess. No day count: applies to Section 1 claims when 50% or more of the available lots are unoccupied at the time of loss.
- Who it is for
- Residential, mixed-use and commercial strata buildings that cannot get cover elsewhere because of complex risks (cladding, defects, high-risk occupancies, alpine locations); brokers only.
- Documents
- Complex Strata PDS (1 October 2025) (1 October 2025) · Complex Strata TMD (1 October 2025) (1 October 2025)
- Covers residential, mixed-use and commercial schemes; listed as commercial_strata because it is the only Flex product for commercial/mixed-use.
The policy
“Flex Complex Strata Insurance offer specialist solutions for eligible residential, mixed use and commercial strata properties.”
Source: flexinsurance.com.au/complex-strata · Confirmed on the insurer's page on 13 November 2026.
How it is sold
“This Product can only be sold by Flex Insurance via an insurance broker”
Source: flexinsurance.com.au/assets/Documents/Flex-Complex-Strata-Insurance-TMD_01.10.2025.pdf · Confirmed on the insurer's page on 13 November 2026.
Flood
“We provide cover for Damage to Your Insured Property by Flood unless excluded in the Schedule.”
Source: flexinsurance.com.au/assets/Documents/FlexComplexStrata_PDS_01102025.pdf · Confirmed on the insurer's page on 13 November 2026.
Left empty
“An Excess of $5,000 will apply to Section 1 – Insured Property claims if 50% or more of the available Lots/Units are unoccupied at the time of loss.”
Source: flexinsurance.com.au/assets/Documents/FlexComplexStrata_PDS_01102025.pdf · Confirmed on the insurer's page on 13 November 2026.
Who it is for
“Complex Strata Insurance Cover for High-Risk Buildings is only available for eligible residential, mixed use and commercial strata properties that have challenges obtaining strata insurance due to complex risk factors.”
Source: flexinsurance.com.au/complex-strata · Confirmed on the insurer's page on 13 November 2026.
Who underwrites and sells it
Underwriter
“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.”
Source: flexinsurance.com.au/ · Confirmed on the insurer's page on 13 November 2026.
QBE Insurance (Australia) Limited: licence
- AFS licence
- 239545 · QBE INSURANCE (AUSTRALIA) LIMITED
- ABN
- 78003191035
- Licensed since
- 10 March 2004
- Principal business
- Sydney NSW 2000
- 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.
Distributor's licence
- AFS licence
- 491113 · CHUISAVER UNDERWRITING AGENCY PTY LTD
- ABN
- 85613645239
- Licensed since
- 14 November 2016
- Principal business
- North Sydney NSW 2060
From ASIC's AFS Licensee dataset, release of 11 November 2026, Creative Commons Attribution 3.0 Australia.
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