Does the office bearers' liability insurance protect them adequately?

Sep 23, 2024 ... on average, strata Insurance policies are currently experiencing premium increases of 10-20% or more for properties with no outstanding claims ... With insurance rates for condos and townhouses climbing 50 to 300 percent – and in one case nearly 800 percent – condo and townhouse owners in BC are worried. May 5, 2021 ... Minimum insurance. Insurance is important to protect your owners corporation (formerly body corporate) and the personal assets of all lot owners ... Quick Links · Copyright © 2024 Strata Insurance Services. All rights reserved. ABN 14 167 214 182 · Request a Quote. Your name. Your email. Subject. Mar 22, 2020 ... Strata insurance provides cover for the property & responsibilities of the owners corporation. Typically, strata insurance will not provide cover. Feb 18, 2024 ... Strata will have a building insurance policy which will cover things like damage to the structural building, common property areas etc. You ... i The growing construction costs have led to an increase in the insured values of B.C. strata buildings (i.e., the replacement and repair costs that insurers ... 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 ... 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 ... The strata corporation must have public liability insurance for an amount specified in the regulations, currently at least $10 million [s 31, reg 14]. Fidelity ...