Can a bank be listed as an interested party on a strata insurance certificate?

A certificate of currency is a common document provided by insurers that confirms there is an insurance policy in place for the property. You should be able to request this from the current insurer of your property.

In the absolute majority of cases, banks do not require that they are noted as an interested party on a certificate of currency because strata legalisation in various states protects interest of financiers with regard to the lot including their interest in the strata insurance. We generally find it is only those lenders who are not major lenders who request this information, as they do not fully understand the legislation.

You can request the insurer issues a certificate of currency with the bank noted as an interested party if this is a requirement.

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 and the specific coverage afforded under their policy wording. Shandit Pty Ltd T/As Strata Insurance Solutions is a Corporate Authorised Representative (No. 404246) of Insurance Advisernet Australia AFSL No 240549, ABN 15 003 886 687.