With Coronavirus (COVID-19) officially declared a Pandemic in March 2020, and the landscape changing almost hourly, there is an air of great unease across Australia. Aside from the significant impact Coronavirus is predicted to have on our health system, there are also implications for the economy and potentially your business.
Does your business insurance still fit the bill?
The dynamic nature of today’s economy means that business risk exposures and insurance needs are changing more rapidly than ever. When was the last time you took a step back from the demands of running your Strata Management firm, to assess whether your business insurance is still adequate? Does it
Are your clients prepared for the bushfire season?
Spring bushfires in suburban areas of the Sunshine Coast in QLD, are a grave reminder that you don’t have to live in a rural area to be impacted by bushfires. The ferocity of these fires in early September, followed by horrific blazes across NSW, QLD, SA and VIC has seen
Strata Managers – Do you Have a Professional Indemnity Safety Net?
Professional Indemnity (PI) Insurance is an important part of any business risk management strategy. No longer is PI only required by professionals such as lawyers, accountants, and architects but it is a legal requirement which applies to all Strata Managers. Professional Indemnity Insurance protects any person or entity who provides
A guide to tackling the challenging Strata Insurance market
In recent times, Strata Insurance has been a bone of contention for many Strata Managers and Owners Corporations (OC) across Australia. Non-compliant building materials, property defects, and hardening insurance markets have seen Strata Insurance premiums increase substantially, often with restrictive policy conditions and high excesses imposed. To help your clients
Flood Insurance cover in Strata properties
Monsoonal deluges and the flooding that ensued became a terrible catastrophe for thousands of Townsville residents earlier this year. Severe flooding caused widespread damage to an unprecedented number of properties, including residential strata. In the aftermath of a flood, many depend on their insurance to help recoup losses. Sadly however,
Strata Managers: how do you handle a crisis?
From raging fires to torrential flooding, a critical event can occur at any given moment for the strata properties you manage. In early February 2019, a fire ripped through several balconies at the Neo200 building on Spencer Street in Melbourne. As a Strata Manager, how would you respond to a
Strata properties: 3 Insurance covers that make common sense.
When it comes to Strata Insurance, nothing is as simple as it seems. Lia de Sousa | Resolute Director, explains below the cover your clients need to adequately protect their properties and the contents inside. If there’s one thing we’ve learnt from broking Strata Insurance for 40 years, it’s that
Tradespeople & caretakers: Check they have the right insurance tools for the job.
Have you hired a tradesperson, or appointed caretakers to carry out works on behalf of an Owners Corporation (OC)? Make sure they have the right tools for the job. Public Liability Insurance is essential and as a Strata Manager, it’s your responsibility to ensure the tradies you engage have Public
The top 6 things to remember when applying for Strata Insurance.
With the Strata construction industry constantly evolving, and the introduction of new and complex legislation, the role of an insurance broker is more important than ever. In order to accurately underwrite a Strata Insurance policy, insurers are requiring a lot more information when placing new business or renewing Strata Insurance