Working in and around the property industry can be tough. Strata managers and real estate agents carry significant responsibility for the assets and communities they oversee, and the risks they face can be just as diverse as the properties they manage.
The right insurance cover can help weather challenges that might otherwise put your business at risk. So, what cover should property professionals be thinking about?
Public liability and property protection
An essential cover is public liability insurance. It provides protection if your business is found legally responsible – or alleged to be – for third-party injury or property damage. Claims can arise from something as simple as an accident on your premises or damage caused while carrying out day-to-day operations.
If you own a premises, building insurance is often a must. It’s there to help cover the cost of relocating your operations and repairing the damage, in the event of disaster. Property insurance, meanwhile, will help defray the cost of replacing lost, stolen or damaged equipment.
Professional indemnity
Professional indemnity (PI) insurance is no longer just for accountants, lawyers or architects – it has become essential for property professionals too.
For strata managers, PI exposures can include disputes about advice given to committees, or liability for issues arising from delayed maintenance of common property.
For real estate agencies, one of the most common PI claims arises when a tenant is injured at a rental property you manage. Often, these claims stem from maintenance requests that have not been actioned, with agencies drawn into legal proceedings alongside landlords.
Depending on your policy, PI cover may help defend against claims of negligence, error or omission – providing financial protection and peace of mind.
Cyber insurance
In 2025, cybercrime is a real and rising risk. The Australian Cyber Security Hotline received an average of 100 calls a day in 2023–24, underscoring the prevalence of attacks.
The financial cost can also be significant. According to the Australian Cyber Security Centre, the average self-reported cost of a cyber incident in 2023–24 was $49,600 for small businesses, rising to $62,800 for medium enterprises and $63,600 for larger organisations.
Strata management firms and real estate agencies are especially attractive to cyber criminals. They hold sensitive personal information such as identification and banking details, and they facilitate high-value transactions. Incidents don’t just disrupt operations – they can also cause serious reputational damage.
Hardening your high-tech defences will make your business less attractive to hackers and cyber criminals. And if you’re unfortunate enough to experience an attack, cyber insurance can help cover your losses and the cost of remediation.
Protecting your professional future
Reviewing your insurance regularly will help ensure you have the right protections in place to safeguard your business and the communities you serve. At Whitbread, we work with property professionals to understand their risks and provide tailored solutions across property, liability, professional indemnity and cyber.
Please contact your Whitbread insurance broker to discuss your insurance needs – and empower your vision with confidence.
T: 1300 424 627
E: info@whitbread.com.au
Important notice
This article provides information rather than financial product or other advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information. In particular, you should review the product disclosure statement for any product that the information relates to it before acquiring the product.
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