What are the key takeaways for strata committee members regarding their insurance obligations?

Sep 23, 2024 ... on average, strata Insurance policies are currently experiencing premium increases of 10-20% or more for properties with no outstanding claims ... What does strata insurance cover? · building fixtures such as pipes, hot-water systems, intercoms and air-conditioners · common property including gardens, ... Jun 12, 2023 ... Many strata insurance policies provide an optional section of cover called “Machinery Breakdown” or “Equipment Breakdown” to guard against monetary losses. May 13, 2024 ... In this article, let's meet the 18 insurance underwriters strata citizens players will come across. Chubb Strata Insurance Product Disclosure Statement (PDS) and Policy Wording, Australia. Published. 02/2024. ©2024 Chubb Insurance Australia Limited. Chubb ... 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 ... Dec 16, 2024 ... This guide outlines essential changes in how SCA members disclose strata insurance practices. At Vantage Strata, we're proud to follow this guide. 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 ... Basically, under GIO Strata Insurance, there are things that are considered your building* (like verandas), and common contents (such as shared laundry ... 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 ...