If you are a Strata Manager acting as an Office Bearer or someone who is currently fulfilling Office Bearers duties for an Owners Corporation then these frequently asked questions should provide insight into how necessary this “optional” cover is. What is Office Bearers Liability Insurance? Office Bearers Insurance is an important cover designed to provide…
Increasingly, organisations are being held accountable for any detrimental impact they may have on the environment. The continual tightening of regulation and intense public scrutiny has seen a heightened need for businesses to manage their environmental risks. In general, the business community has been slow to focus on the potential environmental impact of its operations…
You’ve sought professional advice and now the question is; do you take it or do you leave it? When it comes to determining a building sum insured, disregarding the advice could be detrimental to everyone concerned: the property owner, the Owners Corporation committee and you, the Strata Manager. One responsibility of an Owners Corporation committee…
It is usually only after you buy into a strata property, that you learn there are government regulations you have to comply with, regulations that extend to the insurance of your property. Getting the right insurance to comply with the regulations won’t be a problem if you follow these five simple rules… 1. Start with…
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 there is a lack of…
We recently saw this question posted on the Flat Chat Forum, where people and managers living and working in strata communities can ask questions and have them answered by the community. Question: “Tenants broke a waste pipe which is attached to a wall inside the garage. They hit it whilst entering or exiting the garage….
When it comes to buying insurance, people have two basic choices: buy it themselves or organise it through a broker. As the availability of online insurance products grows, you might be tempted to believe insurance brokers will go the same way as the dinosaur. But that’s not happening, and there is one very good reason:…
Late last year the government passed amendments to the Privacy Act 1988, implementing changes to Australian privacy law in a number of areas. A key change is the replacement of the current National Privacy Principles (NPPs) with a unified set of 12 new ‘Australian Privacy Principles’ (APPs) to regulate the handling of personal information. These…
Cybercrime has evolved and increased substantially over the past ten years particularly in the financial services and retail sectors where a high volume of data is retained, in particular financial information. These industries have therefore had a head start on developing strategies to mitigate and prevent cyber-attacks. Due to the vast quantity of information collected…
There are pros and cons for landlords who manage their own properties as opposed to landlords who employ a property manager to look after their affairs. Are you better off managing your property yourself or do you stand to save more than you spend by paying a property manager to wrangle the tenants for you?…
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