Question: Will any insurers deal directly with an owners corporation with a high-risk commercial tenant?
Our owners corporation has a high-risk commercial tenant. Are there any insurers that deal directly with the owners corporation? Our strata manager and broker are only offering one option for insurance. Most of their panel of insurers will not insure us because of one owner’s tenant. This has resulted in an enormous increase in our insurance costs and, of course, the commission we pay.
I started looking into obtaining our own insurance as we thought it might be more cost-effective. I found that most strata insurance companies only deal with brokers, trapping us into a really bad deal.
Answer: Most of the commercial strata options are with insurance brokers.
The direct market usually insures retail clients, and most of the commercial strata options involve insurance brokers.
You may be able to go to CHU or Strata Community Insurance for assistance as a direct option. However, in this instance, the commercial market currently favours the broking market.
This post appears in the June 2025 edition of The NSW Strata Magazine.
Tyrone Shandiman Strata Insurance Solutions E: tshandiman@iaa.net.au P: 1300 554 165
This information is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Shandit Pty Ltd T/as Strata Insurance Solutions strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances. Shandit Pty Ltd T/As Strata Insurance Solutions is a Corporate Authorised Representative (No. 404246) of Insurance Advisenent Australia AFSL No 240549, ABN 15 003 886 687.