“Normal” Insurance Commission etc.

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  • This topic has 6 replies, 3 voices, and was last updated 14 years ago by .
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  • 17/08/2012 at 4:03 pm #8338 Reply | Quote
    Dudley
    Flatchatter

      Could you please advise a general answer to the following questions or advise further areas of search?

       

      • Our strata manager arranges the building insurance for our strata plan – and collects 15% commission, which is noted on the papers supplied prior to the annual general meeting. I am unaware if any competitive quotes have been obtained. Is this usual and/or ethical?

      • Could the management committee of the body corporate (strata size is 4 townhouses) arrange insurance?

      • There is a charge for an insurance valuation each year in the cash management account – conducted by a branch of the company operating our strata management plan. Is the frequency normal and should a branch of the company arranging the insurance be conducting the valuation?

      • There is a charge, each year, for Trades Monitor OH&S and licence – is this correct?

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    Reply To: “Normal” Insurance Commission etc.
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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