#13950
DaveB
Flatchatter

    Not sure what darryln is really asking here.   Whilst I have no problem with Jimmy's answer, I'd take a punt and say the annual charge is for the CHU Insurance premium.   Our managing agent gives all owners a copy of the policy summary, with notice of annual meeting, which says how much cover is arranged each year.   If you want more detail on what the policy covers (and excludes), you can get it from downloading the Product Disclosure Statement (PDS) from the Company's website. There are statutory requirements in the Strata Schemes Management Act (assuming you are in NSW) for coverage of certain risks, and you should get periodic valuations to make sure you have adequate cover.