Strata Insurance Market Update

  As a trusted Strata Insurance partner, we strive to keep our clients updated and informed. This update seeks to define the key factors impacting the pricing and availability of strata insurance in the current market, so that you can make an informed choice on the best offer of insurance. CURRENT MARKET CONDITIONS For the…

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NSW: Q&A Owners Corporation Committee Decisions

  Question: In the AGM last year, we all voted to have a defibrillator. The chairman and secretary voted against it and in every meeting since have decided to ask a lawyer their legal rights and are digging their heels in. Can they do this? Answer: It may be that the strata committee is seeking…

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NSW: Q&A Is a ByLaw needed for BBQs on Apartment Balconies

  Question: Should we have a bylaw allowing residents to have a BBQ on their apartment balcony? If we have no bylaw and a BBQ becomes a fire hazard, will the Strata Committee Members be held liable? Answer: You need to check what your contract states with regard to strata manager insurance commissions. We have…

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NSW: Q&A Can We Avoid Strata Manager Insurance Commissions?

  Question: Our building insurance is due mid 2019. Is the Owners Corporation able to renew this themselves or must it go through the Strata Management Company? We would prefer not to pay our Strata Manager insurance commissions. Answer: You need to check what your contract states with regard to strata manager insurance commissions. If…

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NSW Government proposes 2% defects bond

As part of its update of various strata laws, the NSW Government is proposing a 2 per cent defects bond on all new strata buildings, as a way to protect owners and to guarantee that building defects which might appear in the first two years, can be re-mediated. This new measure is expected to be…

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