Hutch Underwriting has launched its commercial strata product to the market via Sunrise Exchange.

The cover, designed to cut quoting time to minutes, is Hutch’s seventh product since the agency launched in 2022.

Hutch says its eight-section policy can accommodate up to 79% of residential units below the 26th parallel.

Submissions can be bound within seven minutes, according to the agency, which launched residential landlord cover a year ago.

“Like all of Hutch’s property products, commercial strata quoting is quick and address-specific, featuring an underwriting question set designed to enable automatic decisions for a majority of submissions.

“Over 1400 occupancies are within appetite. These include retail, office, medical and some manufacturing and wholesale tenancies, which will be assessed on a case-by-case basis.”

The eight sections are: buildings and common contents; property owner’s legal liability; voluntary workers personal accident; fidelity guarantee; office bearers’ liability; machinery breakdown; government audit, health and safety, and legal expenses; and cyber.

The policy also includes market-first pet liability covering a body corporate’s legal liability for accidental injury to a resident’s pet in common areas.

Claims are handled by Hutch’s in-house team. The product is available under Sunrise code HUTCS.