This article about insurance commissions in Strata has been supplied by Jonathan Smith, Beyond Strata.In this article, we look into some of the general questions owners may have surrounding insurance commissions within the owners corporation industry in Victoria. In particular, we discuss what managers should be doing to establish and maintain open and transparent … [Read more...]
All National articles about Insurance in Strata Apartments published to our blog
WA: Q&A Liability and Improvements to Exclusive Use Areas
We have been asked about strata liability when lot owners make improvements to exclusive use areas. Leonie Milonas, PSC Property Lync Insurance Brokers provides the following response. Question: If an exclusive use lot holder performs improvements to exclusive use areas that do not meet required safety standards or building codes etc, is strata liable? GET THE LATEST STRATA … [Read more...]
WA: Q&A What insurance do I need for a strata property?
We have been asked 'What insurance do I need for a strata property?' Leonie Milonas, PSC Property Lync Insurance Brokers provides the following response. Question: What insurance do I need for a strata property? We are looking at purchasing a property that is part of strata that was formed pre 1985. GET THE LATEST STRATA NEWS / ARTICLES DIRECT TO YOUR INBOX HEREWe are looking … [Read more...]
Strata Insurance Tasmania – for a small strata scheme
We received a question from a TAS lot owner about strata insurance Tasmania. The following response has been provided by Whitbread Insurance Brokers. Question: The insurance company said our home was part of a Strata scheme so all properties on that scheme should be insured by the Strata. What do we need to know about strata insurance Tasmania? GET THE LATEST STRATA NEWS / … [Read more...]
Q&A Understanding Office Bearers Liability Insurance
These articles about Office Bearers Liability Insurance have been supplied by Todd Garsden of Hynes Legal and Tyrone Shandiman of Strata Insurance Solutions.Question: Qualified non-committee lot owners have come forward to offer assistance and advice. We have been advised these owners are not covered by our office bearers liability policies. How can we fix this?GET THE … [Read more...]
Check Your Building Sum Insured
What building sum insured do you require? If you haven't increased your amount for a few years, now may be the time! Tyrone Shandiman, Strata Insurance Solutions.As part of appropriate due diligence, Bodies Corporate should take the time to review the adequacy of their sums insured when their insurance policy renews.In the years following the Global Financial Crisis in … [Read more...]
Water Damage Insurance Claims and The Excess in Strata Properties
This article about water damage insurance claims has been supplied by Tyrone Shandiman, Strata Insurance Solutions.Question: After a water damage insurance claim, do I have a claim on the owners corporation for the excess on my home contents policy given the fact that I sustained the loss (property damage) through common property failure?GET NOTIFIED WHEN WE PUBLISH NEW … [Read more...]
Owners Corporation Insurance Requirements Victoria
This article about owners corporation insurance requirements Victoria has been supplied by Tim Graham, HWL Ebsworth Lawyers.Insurance is important to protect owners corporations' property and, to a limited extent, lot owners' personal assets. The Owners Corporations Act 2006 sets out the minimum insurance requirements:Reinstatement and replacement insurance of … [Read more...]
Managing the Cladding Crisis: aluminium composite panel (ACP)
More about aluminium composite panel cladding and the impacts across Australia has been supplied by Paul Keating, Strata Community Insurance.From early in the 1990s, aluminium composite panel (ACP) has become a standard material for medium and high-rise buildings across Australia. It revolutionised the building sector by providing a low-cost, aesthetically pleasing skin or … [Read more...]
Does Your Strata Building Contain Non-compliant cladding?
If your strata building contains non-compliant cladding, this is what you need to know. The article has been supplied by Tyrone Shandiman, Strata Insurance Solutions.How Do I Know if My Strata Building's Cladding is Compliant?If your building contains cladding and you are unsure whether it is non-compliant, burying your head in the sand could not only pose a risk to the … [Read more...]
