Insurance

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 […]

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 […]

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 […]

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), […]

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 […]

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 […]

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 […]

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, […]

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 […]

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 […]

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, […]

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 […]

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 […]

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 […]

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 […]

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 […]

The Tuesday 13 September 2022 declaration of a third La Niña weather event from the Australian Bureau of Meteorology brings with it the distinct possibility of another very wet, and […]

Industry news pulls together some of the most interesting and important stories in the strata industry over the past few months. Electric Vehicles The growing demand for electric vehicles (EVs) […]

Increases in the cost of living and doing business have been rising, and at a faster rate than in many decades. This is largely driven by supply chain issues and […]

On 15 July 2022, a paper titled Independent Review of Strata Insurance Practices, authored by insurance industry expert John Trowbridge and commissioned by the Steadfast Group was released. This paper […]