NSW SMs to stop taking insurance commissions
Controversial insurance commissions for strata managers to be banned by the NSW professional body from next year. [See the full post at: NSW SMs to stop taking insurance commissions]
Insurance renewal: decrease in price (Victoria)
It sounds unbelievable but our insurance renewal has been received and accepted with a 15% decrease in cost from the current policy. Arranged through a broker we’ve used for several…
Victoria takes Chandler path to defect insurance
Victoria is bringing in a building bond - and cover inspired by former NSW Building Commissioner David Chandler's defects insurance.
Victoria takes Chandler path to defect insurance
Victoria is bringing in a building bond – and cover inspired by former NSW Building Commissioner David Chandler’s defects insurance. [See the full post at: Victoria takes Chandler path to…
SM wants to claim against strata insurance for lot property repair
Hi, our strata has a special resolution that the Canvas awning installed to lot owner is not common property because our strata plan registered before 1st July 1974 any wall…
Forum: Offered a half year insurance at same cost
Forum: One of the problems with strata insurance being compulsory is that brokers and their strata manager related companies can dictate the terms.
Forum: Offered a half year insurance at same cost
Forum: One of the problems with strata insurance being compulsory is that brokers and their strata manager related companies can dictate the terms. [See the full post at: Forum: Offered…
Insurance limited to 6 months due to defects needing repairs
Hi All We are in NSW, apartment block of 36 units and like some of our apartment neighbours have water ingress issues. We have indentified the issues, have raised extra…
What is reasonable insurance cost?
I appreciate the question has a lot of variables but what is a “normal” figure, per year, per lot, for building insurance cost? Is $1000 per lot for a $8.3…
Can SMs be fined $1.1m for failing to provide insurance quotes?
Breaches of s166 of SSMA 2015 could have a maximum 500 penalty units. Sch 5 of SSMR 2016 provides the penalty per unit is $2,200 for a corporation. That means…
Strata committee refuses to make insurance claim
I have had water damage from water ingress coming into my unit through the back wall. The strata committee does not want to submit a claim for loss of rent.…
Stay strong on insurance commission ban – OCN
The OCN and ACIL issued a joint call this week for the government to “stay the course” and deliver on its commitment to outlaw strata insurance commission.