How can a strata committee implement risk management strategies?

Sep 23, 2024 ... on average, strata Insurance policies are currently experiencing premium increases of 10-20% or more for properties with no outstanding claims ... 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, ... Nov 21, 2023 ... – Unless bylaws amended, strata corporation is not responsible to insure for buildings on bare land strata lot that are not shown on the strata ... 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. Effective Nov. 1, 2020, amendments will require insurers or insurance agents to provide 30-day advanced notice directly to strata corporations of their ... Why pick Strata for your insurance needs? Save time and money. Nobody loves getting insurance. But we make it easy and hassle-free by shopping around to find ... May 23, 2024 ... Strata insurance is designed to protect you and your property as a lot owner. It provides general insurance cover for common property under the ... An insurance broker can arrange strata insurance on behalf of the owners' corporation. "As a strata owner, you also have a share of an unlimited liability ... 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 ... All Owners Corporations of a Strata Scheme insure the building and keep the building insured under a contract of insurance against fire, lightning, explosion ...