Detailed planning and preparation is essential to protect the liability exposure and brand reputation of your Strata Management business in a crisis. Part 3 of our Crisis Management series builds upon Part 2, outlining in detail the crucial elements you need to consider to ensure you have the capability to
Crisis Management Part 2: Preparation is everything
A crisis may occur at any time and can impact your business in a number of ways. Despite many years of good work in building a strong and favourable image in the community, your Strata firm’s reputation can be tarnished quickly if a crisis is not managed effectively. In Part
Crisis Management Part 1: Reducing the severity of a crisis and the impact on your Strata Management business
Headlines were made across Australia in November, 2014 when the severe ferocity of a Docklands apartment fire was attributed to the use of illegal cladding material in its construction. Even more alarming now, is that the cladding has been used in hundreds of high rise buildings throughout Australia. The presence
What financial advice can you provide your clients?
Are you fully aware of the legal guidelines you need to follow in order to provide financial advice or arrange insurance for your clients? Do Strata Managers need to become an Authorised Representative? The Financial Service Reform Act 2001 changed many things in regards to giving advice. Prior to this
The problems with signing a release
As Strata Managers, your days are spent ensuring the needs of the Owners Corporation are met. Owners expect quick and timely action on all matters particularly when it comes to claims. However, in our experience, Strata Insurance claims that involve more than one party can result in unnecessary delays if
Residential Strata Insurance Q & A
Here are the most common questions we get about Residential Strata Insurance. Question: What is a building generally covered for under a Residential Strata Insurance policy? Answer: Strata Insurance policies generally cover material damage as a result of an insured peril to structural fixtures including fixed plant, machinery and underground