Insurance

Strata Industry Preparedness and Resilience Learnings from Recent Catastrophes

Australia’s climate presents unique challenges for strata buildings. From scorching summers to torrential rains and hailstorms, it’s essential for Strata Managers, Insurance Brokers, and property owners to be well-prepared for […]

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By CHU

February 19, 2024

Are You a Risk Seeker or a Risk Avoider?

We’re exposed to many types of risk in our lives. Our attitude to risk is often referred to as our “risk tolerance” and in the insurance world, the term “risk […]

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By BCB

Underinsurance: Something you should always avoid when insuring your property

It is a simple fact that most homeowners may not have enough savings to rebuild a badly damaged or destroyed home, or, to pay off the mortgage still owing even […]

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Whitbread insurance

January 14, 2024

Advancing Sustainable Development in the Strata Industry: A Path Aligned with UN SDGs

The United Nations Sustainable Development Goals (UN SDGs) are a set of 17 goals, embraced globally, which outline a vision for a fairer, greener future. They cover important world issues, […]

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By CHU

December 12, 2023

Are Further Insurance Premium Hikes Inevitable?

Weather events have been the greatest contributor to rising strata insurance premiums. While Queensland is seeing some relief from premium hikes thanks to the Cyclone Reinsurance Pool (CRP), many strata […]

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By BCB

trending
Peak Strata Body Releases Landmark Strata Insurance Disclosure Best Practice Guideline

Property peak body Strata Community Association (SCA) has released an industry first Strata Insurance Disclosure Best Practice Guideline that will improve strata insurance practices and outcomes for its members and […]

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SCA

December 8, 2023

Strata Communities — Who, Where and Why?

Our strata industry continues to grow and evolve, as more Australians choose to own or live in high-density communities. This is due to population growth, the conversion of existing buildings […]

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By BCB

October 8, 2023

Valuers are Valuers — Building Insurance Valuations

Specialised field Building Insurance Valuations for strata and community schemes is a very specialised area. Each State has differing requirements, ranging from ‘obtain a valuation’ (VIC), ‘full replacement value’ (QLD), […]

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By Wal Dobrow, Director, BIV Reports

What Does the ARPC Cyclone Pool Mean for Strata Property Owners?

The government’s new ARPC Cyclone Reinsurance Pool provides accessibility to insurance for strata property owners and aims to have a positive impact on insurance for customers in cyclone prone areas […]

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By CHU

insurance
WA – Dry and Hot Conditions Ahead

Don’t wait for the official declaration While the Bureau of Meteorology hasn’t yet declared an El Niño in 2023, that’s not a reason to ignore the onset of the summer […]

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Nick Swallow, BCB

September 9, 2023

insurance
Ensuring Adequate Insurance Coverage for Strata Properties

For strata property owners, the common areas are a shared responsibility. This puts strata owners in a unique position, where their insurance cost is shared, and so too are the […]

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CHU

insurance
Cyclone Seroja – A story of strength, survival and providing hope

Narrated by Tony Gorman, Director Valuations-Perth “I love a sunburnt country, a land of sweeping plains, of rugged mountain ranges, of droughts and flooding rains, I love her far horizons, […]

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Tony Gorman, Director Valuations-Perth, Acumentis

insurance
Why You Should Recalibrate Your Building Insurance Valuation Now

CAUSES OF CONSTRUCTION COST INCREASES Recommendation – obtain new Building Insurance Valuations, as earlier valuations were carried out in an environment of an expected ‘steady’ increase in construction costs, not […]

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Wal Dobrow, Director, BIV Reports

September 4, 2023

sustainability
Powering Ahead – Electric Vehicles and Strata

The sale of Electric Vehicle (EV) models in Australia is growing to meet the changing demands of buyers. The year-on-year growth of EVs and Australia’s transition to sustainable energy is […]

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Whitbread insurance

August 30, 2023

insurance
Understanding and Influencing Insurance Risk: The Dual Approach of Frequency and Severity

The strata insurance market continues to evolve post pandemic, with more complexity and scrutiny placed on the properties the insurers cover. This has been driven in part by ongoing inflation, […]

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Strata Insurance

features
Defects in Strata properties and their impact on Insurance

Building defects are a common issue in both new and existing buildings across Australia, especially as the demand for strata properties is growing and currently outweighs the supply. It is […]

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By CHU

June 24, 2023

features
Where to for our strata insurance ecosystem?

In Tennessee, in September 1916, Clarence Saunders founded his revolutionary new style of grocery store – Piggly Wiggly. Until this time, customers presented their shopping orders to clerks who gathered […]

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By BCB

features
How AI and Drone Technology Is Transforming the Strata Industry

The strata industry is changing. Strata owners are demanding quick, excellent service and Insurers and Underwriters are asking for more detailed and higher-quality building information. These factors coupled with the […]

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By CHU

March 28, 2023

features
Where to for the strata insurance market – 2023 and beyond

As we emerge from COVIDinduced disruption, despite facing tough economic conditions businesses appear to be returning to longer planning horizons. They are ready to invest and form new partnerships. To […]

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By Body Corporate Brokers

features
Steps to take to make your scheme more competitive to insurers

How do schemes become more competitive As you may be aware, insurers are becoming highly selective of which schemes they may choose to insure. Each scheme now has to be […]

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By BIV Reports