The reality is we have recommended committees procure insurance independently of their manager for years and completely avoid any fees. However then the SCA made it standard practice to charge a “lost commission” fee for the commission they would have received.
The commissions have never reflected the actual work required on insurance. The industry has overplayed it’s hand on how much work strata insurance was for years to justify the ridiculous fees and now we are likely just going to see commissions replaced by just as ridiculous fee for service to do not a lot.
We recommend every committee go and procure its own insurance through and independent broker and see how little value your strata manager added in the process.