Steadfast-owned CHU, Strata Community Insurance and IAG’s Strata Unit Underwriters have again come out best in an annual ranking of strata offerings in the residential and commercial product categories.

They retained their platinum status in the two categories, according to StrataRatings, which has been evaluating the quality of strata products since 2018.

Best-performing products get platinum status, followed by gold, silver and bronze.

MD Simon Plummer says two more products were taken out of the market last year and 13 in total have been withdrawn in the last four years.

“The strong stay strong,” Mr Plummer said. “Whilst it is always concerning to see products leave the market… it is important to recognise that that the leaders in the space have remained strong over the years.

“Their expertise and longevity in this niche arena have led to strong partnerships with underwriters and constant policy tweaks to keep up with strata needs to ensure risk is transferred appropriately.”

In the residential category, gold status went to Flex Insurance, Axis Underwriting, Chubb Insurance, Longitude Insurance and Millennium Insurance.

For the commercial segment, Chubb Insurance and Longitude Insurance are the only two who were conferred gold status.

Click here for more on the ratings.