Does the insurance policy require being voted for at an AGM, or is it the responsibility of The Council of Owners? What are our strata insurance requirements in WA?
The Strata Titles Act 1985 (STA) s127(c), outlines the matters for an AGM.
The Strata Titles Act 1985 (STA) s127(c), outlines the matters for an AGM. Which includes presentation of copies of insurance certificates and schedules for Required Insurance as per the STA requirements.
At the AGM the owners give direction to the Council how they wish to insure the buildings after the required and desired building coverages has been considered.
Where there is a strata manager involved, they will arrange renewal documents to be sent, obtain quotes and arrange a valuation etc. if required and send to the Council seeking instructions and approval from them. The Council has the authority from the General Meeting to make these instructions to the Strata Manager or in some cases directly with a broker or insurer, if a strata manager is not involved.
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Meet Leonie, General Manager of PSC Property Lync Insurance Brokers. With over 25 years of insurance industry experience, Leonie is a qualified insurance professional, working within many sectors of the profession, specialising in strata insurance for the last 12 years. Prior to setting up Lync Insure she was state manager for two specialist strata underwriting agencies.
Leonie is no stranger to the strata industry having spent 6.5 years as a board member of Strata Community Association WA and also serving on their Education Committees for the last 7.5 years. She is passionate about education and immensely enjoys everything that the strata sector has to offer. Leonie's LinkedIn Profile.
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