Mastering strata insurance: Seven essential tips to navigate challenging times

Mastering strata insurance: Seven essential tips to navigate challenging times

The world of strata insurance is experiencing dramatic transformation. Insurers are becoming increasingly risk-averse in the face of natural disasters, resulting in changes to policy, reduced competition and sharp increases in premiums. The surge in demand for building materials and construction services is driving up maintenance costs, while the rising cost of living sees strata…

Flood Insurance

Flood Insurance

This article addresses the ins and outs of flood cover, and whether your clients can include flood cover as part of their Strata Insurance. 1. How is flood defined In the past, different insurance companies all had their own definition of what constitutes ‘flood’ in their policy wordings. However, in 2012, the Insurance Council of…

Strata Insurance Market Update FY2022-2023

Strata Insurance Market Update FY2022-2023

Understand the current Strata Insurance market landscape, how to achieve the best outcome for your strata property, and what’s on the horizon for 2022. Strata Insurance Market Overview The Strata Insurance market is experiencing considerable rate rises and cover availability is becoming increasingly restrictive. Major losses across the insurance industry, in particular the strata space,…

Catastrophe and claims. An update from the claims team.

Catastrophe and claims. An update from the claims team.

From earthquakes to storm damage, many homes, cars and businesses have experienced serious damage due to recent events. In turn, this has seen a major spike in insurance claims, with brokers, insurance companies and repairers alike being inundated with claims to resolve. As we come out of lockdowns and with travel borders opening, the next…

How a Strata Insurance Broker can enhance your Strata service offering

How a Strata Insurance Broker can enhance your Strata service offering

With the online insurance market a popular way of obtaining cover, the role of an Insurance Broker may appear less relevant than in previous years. However when it comes to Strata Insurance, it is quite the opposite. Complex legislation and the intricate, highly involved nature of managing Strata Insurance and strata claims, has meant the…

Using a Strata Insurance Broker can be a game changer

Using a Strata Insurance Broker can be a game changer

With the online market a popular way of obtaining insurance cover, the role of an insurance broker may appear less relevant than in previous years. However when it comes to Strata Insurance, it is quite the opposite. Complex legislation and the intricate, highly involved nature of managing Strata Insurance and strata claims, has meant the…

Flood Insurance for Strata Properties: Are you Covered?

Flood Insurance for Strata Properties: Are you Covered?

Devastating bushfires plagued much of Eastern Australia last summer, before a deluge of rain arrived, causing severe flooding and 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, stressful situations are often made worse when people…