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.
In today’s insurance market, many insurers are becoming increasingly cautious when it comes to quoting on commercial strata properties. This is particularly true for properties with high-risk tenants or limited risk profile information. Insurers rely heavily on accurate, up-to-date information to assess the risk associated with a property. Without this, many insurers may decline to offer terms or apply significantly higher premiums and excesses.
Being part of a strata community often means pitching in to help things run smoothly. While volunteering your time may feel like a practical way to contribute, it’s important to understand how this affects both your safety and the Owners Corporation’s legal obligations. Here’s what every strata resident, committee member and manager needs to know.
Cladding Safety Victoria was established in 2020 by the Victorian Government and seen as a world-leading initiative via the Cladding Safety Victoria Act 2020 (Vic). The $600 million program was intended to make Victorians safer by helping residential apartment building owners rectify non-compliant or non-conforming external wall cladding products.
If you’re renting out a property in Australia, you might assume standard home insurance has you covered. But many landlords only realise the gaps in their policy when it’s too late. In this article, we unpack why standard insurance often isn’t enough for landlords, what a specialist policy includes and how specialist landlords insurance can help you protect your property and rental income.
For developers of new strata properties in Australia, securing comprehensive insurance coverage is a critical step in the development process. However, common questions often arise, particularly around the need for detailed construction material breakdowns and percentage allocations. In this article, we address some of the most frequently asked queries and explore key considerations when insuring new developments.
If your business manufactures or sells products to the public, product liability insurance can be very important. It’s designed to protect you from legal action by individuals who claim to have suffered personal injury or property damage from using or being exposed to the items you provide.
Running your own show can be exciting and rewarding, personally and financially, but it’s not without its risks. There’s a lot that can go wrong…and if it does the buck usually stops with you and your fellow owners and directors – figuratively and literally.
Australia is experiencing a severe housing affordability crisis. Our demographics and needs are changing…BTR may be part of the plan to deliver a diversity of new housing options.
Understanding the trends that are affecting the insurance market can help you and your broker select the type and level of cover that’s right for your business.
Need to get in touch with the team? Please fill out the form and our team will get in touch shortly.
