What are the best practices for managing strata insurance effectively?

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 ... Jun 25, 2021 ... Public liability insurance is mandatory for all strata property whether commercial, residential, or mixed-use strata property. Public liability ... Jul 10, 2023 ... The strata insurance market continues to harden with insurance premiums subject to sustained increases. Even where there has been no claims ... This coverage offers financial protection if you're required to pay a portion of a Strata Corporation deductible when an insurance claim is filed. Strata ... Travelers has been an insurance leader, committed to keeping pace with the ever changing needs of our customers, for over 160 years. As one of the nation's ... Strata insurance usually includes cover for common areas such as gardens, lifts, walls, windows, pools, ceiling, floors and some liability cover for injury to ... Many customized plans can bridge coverage gaps and provide specific benefits to supplement other major medical or health insurance coverage. LEARN MORE ... May 5, 2021 ... Minimum insurance. Insurance is important to protect your owners corporation (formerly body corporate) and the personal assets of all lot owners ... 150 (1) The strata corporation must obtain and maintain liability insurance to insure the strata corporation against liability for property damage and bodily ... Effective Nov. 1, 2020, amendments will require insurers or insurance agents to provide 30-day advanced notice directly to strata corporations of their ...