Are there any specific insurance considerations for strata schemes undergoing significant redevelopment or refurbishment?

Strata Insurance covers residential buildings within a complex and common areas such as garages, sealed driveways, and swimming pools. Strata Insurance provides cover for the common, or shared areas of apartment buildings or townhouse complexes. As well as insuring the building itself, ... Feb 27, 2025 ... Every strata scheme must set a budget each year. This budget should include an estimate of expenses for the year ahead, to help you work out the levies that ... Jan 23, 2025 ... There are many specific requirements for insurance in strata schemes but as a general rule all insurances are taken out by the body corporate. The strata insurance policy provides property coverage for Common Property, including any buildings shown on the strata plan, the common assets and any ... We cover you for damages to the building, its contents, loss of rent and various owners' liabilities that you have. Oct 27, 2022 ... Covers against any claim for compensation or expenses that you become legally liable to pay for such as personal Injury or property damage, ... Dec 6, 2022 ... Under strata or body corporate management legislation in those States, an owners' corporation is excluded from the operation of the Corporations ... Strata Insurance policies cover material damage as a result of an insured peril to structural fixtures including fixed plant, machinery and underground services ... Aug 29, 2024 ... Marsh McLennan is the leader in risk, strategy and people, helping clients navigate a dynamic environment through four global businesses.