Insurance

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 […]

After years of debate over the need for a catastrophe reinsurance pool, the Government has finalised the design of the reinsurance pool for cyclone and related flood damage in northern […]

Strata insurance can be a complex area to understand. You may get asked what it covers, and what other insurance policies owners need to protect their assets. Strata insurance policies […]

Successfully navigating the strata insurance market to make well-informed decisions will increasingly involve making sure you understand more about insurance market dynamics and the particular risk exposures of your building(s) […]