Are there specific insurance requirements for short-term letting?

Aug 29, 2024 ... Marsh McLennan is the leader in risk, strategy and people, helping clients navigate a dynamic environment through four global businesses. What is Strata Insurance? · Strata Insurance covers the owner's corporation for loss of or damage to buildings, contents of common areas, Public Liability and ... Find out what insurance a body corporate must take out if it is registered under a building format plan. World class insurance software. Powering profitable growth for insurance retailers and modern digital journeys for consumers, CDL Strata is the retail platform ... 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. We are going to chat about the insurance that this entity must carry, what's inside this policy, and how it directly affects unit owners. Apr 22, 2024 ... A strata owner may be required to pay the strata corporation's insurance deductible. This could be a significant expense as deductibles of ... Who should consider it? Strata insurance is compulsory in every state – so if you're part of an owners' corporation in a townhouse, unit, flat, apartment or ... Strata insurance protects the building and common areas or facilities, with the premiums paid for by the owner's corporation. A strata corporation's insurance may cover insured losses to the condo building and common property, but it does not cover your personal liability, contents, or ...