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
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
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
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
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