CGU’s strata inspection project in north Queensland has been “highly commended” in the Get Ready Queensland/Resilient Australia Awards.

The State Government’s Get Ready Queensland project encourages disaster preparation, while the Commonwealth’s Resilient Australia scheme promotes work to enhance recovery.

CGU subsidiary Strata Unit Underwriters (SUU) this year launched a project to fund risk assessments on more than 500 residential strata properties it insures in north Queensland.

The region has experienced huge premium increases in recent years following cyclone losses.

SUU MD Brad Robson says the project has delivered average annual premium reductions of 11% to more than 3000 customers, at an average annual saving of $200.