› Forums › From the Front Page › SM commissions ban to save $300m says report › Current Page
I think the savings will be made when insurers have to be more competitive with their products and the premiums they charge, rather than their enticements for strata managers. Yes, the SMs may well increase their fees, not least by adding a “fee for service”, but at least that won’t be a raw precentage of the insurance premium.
It shouldn’t cost 10 times as much to negotiate insurance cover for a block with ten times as many apartments. Th blocks that will feel the most pain are the smaller ones where the fee for service is more than the commission based on a percentage.
As for the $300m – I guess that’s how much will be saved over the next ten years when money for nothing is taken out of the equation.