Strata Managers won’t reveal details of insurance

1. You could look at the annual accounts – submitted to owners with the agenda for the AGM – and keep an eagle eye out for an insurance line item. That should reveal the premium paid and often but not always, the insurer’s name.

(a) You could then ask the agent for a copy of the insurance certificate; which would include the insurer’s name and you strata’s policy number.

(b) You then call the insurer and ask all your questions. Remember to ask also for a copy of the PDS (Policy Disclosure Statement) which lists all the terms of the policy.

2. If the above does not answer your queries, then look closely at the AGM Agenda and Minutes.

Often it is something along the lines of: 2 (or more) quotes to be obtained and strata mgr is authorised to insure the strata etc.

If so, you could first ask the strata committee and then the agent

(a) To see the quotes received and

(b) To be informed as to which insurer was chosen and why

Many agents has an online portal for each strata where common documents eg by laws, insurance certificates etc are deposited and are available for owners to view at will. If this is the case, you should have been provided with a password to access it.