Insight

Reputation is crucial when it comes to attracting financial contributions to Not for Profit (NFP) organisations. Yet with cybercrime on the rise, NFPs are facing a new threat to brand reputation and profitability, should the personal information of donors become compromised in an attack. A tarnished reputation has the potential to reduce the number of…

In the event of water damage due to a leaky pipe in a Strata property, who is responsible for paying the excess – the owner or the body corporate? Excesses can be a confusing area when it comes to Strata Insurance claims, particularly around who is responsible for paying the excess. Whitbread’s Strata Insurance specialists…

We like to think ‘it will never happen to us’. But the reality is, some of us will pass on sooner than expected – leaving family and loved ones behind. Should something unforeseen occur, could your loved ones survive without you? How would they pay monthly bills? Or keep up with mortgage repayments? This is…

$276,232 is the average cost for cyber incidents in Australia*. Regardless of how good your company IT systems are, there is no 100% guaranteed way to protect your data. A data breach can not only cause significant financial losses for your business, it can negatively impact your clients and customers, putting you in the legal…

With the most significant Strata Law Reform* package in decades passing the NSW Parliament, it is essential that as a Strata Manager, you understand how these changes are going to impact the duties and obligations you have to your clients come November 30, 2016. While many of the new laws affecting Strata Managers relate to…

Are there unknown contents being stored in garages on your strata? While a resident could be storing a friend’s business stock as a favour, if the contents are unknown they could pose a hazard and potentially lead to an uninsurable claim. An interesting query regarding unknown business stock being kept in the garage of a…

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 always results in an increased…

If you are a Whitbread Authorised Representative (AR) you’d know that we are continually carrying out audits to ensure you understand and meet your obligations while operating under the Whitbread Australian Financial Services License (AFSL). We are happy to share that after our recent audits, most of our ARs are doing a fantastic job! If…

It is a simple fact that most homeowners will not have enough savings to rebuild a badly damaged or destroyed home, or, to pay off the mortgage still owing even though the home may no longer exist. That’s why we have insurance, right? Even though most homeowners do have Home Insurance, a worrying proportion of…

What is Strata Insurance and what does it cover you for? We answer the most common questions we get asked about Strata Insurance every day. 1. What is Strata Insurance? Strata Insurance is designed to protect you and your property as a lot owner. It provides general insurance cover for common property under the management…