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
Hello airbnb guests… goodbye insurance cover
The boom in internet accommodation sites like Airbnb has led to more Australians opening their doors to people we don’t know. But what if something goes wrong? Lia de Sousa, Director of Resolute Property Protect, checks out what happens after strangers check-in. It’s Saturday night and you’re catching up over
Why Management Liability Insurance is essential for all Strata Management businesses.
Owning and running a Strata Management firm carries with it significant responsibility and risk. Wrongful acts by directors, dishonest acts by employees, harassment, wrongful dismissal and statutory fines and penalties are just a few exposures that can threaten the financial sustainability of your business. Management Liability Insurance is designed to
The value of using a Strata Insurance Broker
With the online insurance market becoming increasingly popular, the role of an Insurance Broker for things like your vehicle or home may appear less relevant. When it comes to Strata Insurance however, it’s a very different story. With complex legislation and the intricate, highly involved nature of managing Strata Insurance
Top Tips to help ARs stay compliant
Resolute Property Protect are carrying out audits to ensure Resolute Authorised Representative (AR) Partners understand and meet important obligations while operating under the Resolute Australian Financial Services License (AFSL). Review our tips below to ensure you are compliant and always meet your obligations when it comes to arranging insurance for
Resolute’s Guide to All Things Strata Insurance
Are your Strata clients often confused about Strata Insurance, what it covers, and the other insurance policies they need in place to protect their assets? Below we answer the most common questions we get asked on Strata Insurance, to help you guide your clients through this often confusing area of insurance.
Office Bearers Liability – An option or a must have?
What is Office Bearers Liability Insurance? Office Bearers Liability Insurance is an important cover designed to provide protection to the Owners Corporation Committee members against losses arising from alleged wrongful acts committed in the course of carrying out their duties as the committee. In what is becoming an increasingly litigious
Strata Law Reform in NSW: Insurance
With the most significant Strata Law Reform* package in decades passing the NSW Parliament, it is essential that as a Strata Manager, you understand how these changes are going to impact the duties and obligations you have to your clients come November 30, 2016. While many of the new laws affecting
The problems with running a business from a residential strata property
Running a small business out of a residential strata unit may cause major issues in relation to insurance. Not only can it increase the risk of a public liability claim, but it can also change the property classification from residential strata to commercial strata. A change in property classification almost
Volunteering at your Strata property. Is it worth the risk?
Strata residents often volunteer for odd jobs around their Strata property. However, they also tend to volunteer with the belief that they’re covered for Personal Accident under Strata Insurance if they become injured. Unfortunately this isn’t always the case! Ensure your clients are fully informed of what is covered before