Since the 2014 Lacrosse building fire in Melbourne, there has been heated debate, publicity and extensive enquiries with respect to non-compliant Aluminium Composite Panels (ACPs) in strata property developments. The notorious Grenfell Tower fire in London, 2017 perpetuated this further, sending authorities and occupants of multi-level buildings into a panicked
Banning Combustible Cladding in Victoria
Since the 2014 Lacrosse building fire in Melbourne, there has been heated debate, publicity and government enquiries with respect to non-compliant building materials used in new strata developments. In 2018, new ministerial guidelines are set to ban the use of these products with harsher penalties in place for builders and
Cybercrime: are you aware of the personal fines and penalties you could receive?
As the principal of a Strata Management business, you likely spend most days ensuring the needs of your strata clients are met. But when was the last time you stopped for a second to reconsider the needs of your own business, and any emerging risk exposures that could pose a
Are your clients’ rental property incomes sufficiently protected?
Individuals who own and lease their strata properties often hold expectations that Strata Insurance will insure them for events occurring inside their apartment – this is not the case. Landlord Insurance is essential in order to cover a landlord’s fixtures and fittings, rent default and public liability for inside the
A breach of professional duty: Do you understand the risk?
Owners Corporation (OC) Committees are within their rights to proceed with litigation against their Strata Manager for a breach of professional duty if they believe the professional services provided are directly responsible for a financial loss incurred by the Owners Corporation. While the breach may merely be an error in
Resolute’s interview with Kemi Nekvapil
Actress, endurance runner, Raw Beauty Queen, yoga teacher and life coach… yes unbelievably we are talking about one woman…! As a lead up to the Resolute Forum in October, we interviewed the talented, courageous and charismatic Kemi Nekvapil. Kemi revealed to us the ups and downs of her career journey
4 ways Landlords can maximise their cover
Believe it or not, having the right Landlord Insurance in place can play a key factor in reducing a Landlord’s overheads in the long term. While having minimal cover or reducing the scope of a Landlord Insurance policy is not something we recommend, we understand the importance of getting the best value
3 key challenges that impact Strata Insurance, and how you can tackle them.
The role of a Strata Manager is continually increasing in complexity and responsibility. Below we address some key challenges affecting properties that can also impact the Strata Insurance – asbestos, non-compliant cladding, and property defects. Unfortunately the frequency at which Strata Managers are faced with these issues is growing, and
Disregarding property valuations could cost Strata Managers & Committees
You’ve sought professional advice and obtained a valuation. Now the question is; do you take it or leave it? When it comes to determining a Building Sum Insured, disregarding professional advice could be detrimental to everyone concerned: the property owner, the Owners Corporation (OC) Committee and you, the Strata Manager.
Terrorism Insurance Act: Strata Insurance Levy Changes
From July 1, 2017, some residential Strata Insurance policies will experience significant total premium changes as a result of amendments to the Terrorism Insurance Act 2003 (Cth). The changes apply Australia wide, and relate to the introduction of a Terrorism Levy. What are the changes? Property types eligible for insurance
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