Do we need Workers Comp Insurance?
Our Owners Corporation needs to know if insurance laws and requirements for strata title properties have changed. At our recent AGM an Insurance Certificate of Currency was presented by the…
Re: special levy includes insurance and management fees??
You’re not setting the budget correctly – even allowing for the increase in insurance, if things are that tight. I suggest you sit down with the manager and draw up…
Re: special levy includes insurance and management fees??
Well, if there is no money left in the Admin fund, then I don’t think the SM works for nothing. Set budgets are not always accurate. You have bad years…
Re: Water damage and Insurance claim
Maybe you just need to choose another insurance agency? I’ve changed some and now i’m dealing with American Insurance . Totally happy with them, very flexible conditions and communicative staff
special levy includes insurance and management fees??
We received a special levy request from Strata Manager asking for the full year insurance cost and the next two quarters of the strata management fee, and 7 days to…
Re: Letter Of Authority – Existing Building Insurance Policy
The ‘devil’ is usually in the detail in these contracts. Perhaps next time that the contract is about to be renewed your OC can remove the clause that refers to…
Re: Letter Of Authority – Existing Building Insurance Policy
Hi Lady P, The insurance company advised us that [they] “transferred the policy to another intermediary in line the with insureds request and based on the date on the letter of…
Re: Letter Of Authority – Existing Building Insurance Policy
In my opinion …at first glance the SM appears to have over stepped his authority but this very much depends on what contract provisions that your OC approved and has…
Letter Of Authority – Existing Building Insurance Policy
I just found out that our recently appointed SM (coming from being self managed) sent a Letter of Authority to our existing building policy holder without advising the SC in…
Terrorism Insurance for buildings insured for over $50million
Something for treasurers of larger strata schemes to work into budget is the expansion of the terrorism insurance scheme: “broaden the definition of eligible property to include buildings with a…
Re: Water damage and Insurance claim
@Lady Penelope said: This article is well worth reading: https://www.landers.com.au/insights/publications/projects-construction-and-infrastructure/strata-legislation-update-damages-for-breach-of-the-duty-to-repair-and-maintain-the-common-property/ It’s a very interesting analysis. The authors note that s.106(5) uses the words “reasonably foreseeable”: any reasonably foreseeable loss suffered…
Re: Water damage and Insurance claim
Sorry I got the subsection wrong Lady Penelope but I’m not sure what the problem is, that is what I was saying – you have a statutory cause of action,…