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…
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,…
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…
Nobody thought we would still be working from home 18 months later when the pandemic began last year. No matter your situation at home, whether you are living alone, home-schooling children, or having to share the same workspace as your partner, we believe it’s best to stick to a routine during lockdowns. To help keep…
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…
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…
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…
Is your Owners Corporation experiencing difficulties paying Strata Insurance premiums, as a result of the economic impact of COVID-19? We understand this is a real issue for OC’s around Australia, and want to assure you that there are options available to help alleviate the financial strain at this time. In this article, we address…
With Coronavirus (COVID-19) officially declared a Pandemic, we understand you may have a number of questions regarding the impact on your insurance when to comes to strata properties. This fact sheet has been designed to address and clarify your key concerns. Will the Owners Corporation (OC) be held liable if someone is found to have…
We understand that many Australian’s are currently facing uncertain times, and potentially a loss of income due to the COVID-19 pandemic. Given this current climate, we sympathise that you may be concerned about your ability to pay Strata insurance renewals. This is where Premium Funding comes in. Premium Funding payment solutions allow you to pay…
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