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CHU, Australia's leading strata insurance underwriting agency, has launched a new residential strata insurance policy designed to better support property owners and strata communities. This initiative reflects CHU's commitment to delivering customer-focused solutions that simplify insurance processes and enhance community resilience. - read more
The Insurance Council of Australia (ICA) has called for significant reforms to Victoria's strata legislation, highlighting that poor governance and deferred maintenance are leading to increased insurance premiums for the one in five Victorians residing in strata-titled properties. In a submission to the Expert Panel Review of the Owners Corporations Act 2006, the ICA emphasised that building defects are costing Australians an estimated $1. - read more
Recent developments have brought to light concerns regarding the insurance practices of Netstrata, a prominent strata management firm in Australia. Clients have reported the sudden appearance of past insurance invoices in their online portals, revealing brokerage fees significantly higher than industry norms. - read more
New South Wales has introduced a series of reforms aimed at strengthening the maintenance and repair obligations of strata properties, enhancing the safety and integrity of these communities. Effective from November 2025, these changes grant NSW Fair Trading the authority to issue compliance notices and enter enforceable undertakings with owners' corporations that fail to meet their maintenance responsibilities. - read more
Strata insurance is a specific type of insurance designed to cover shared property and common areas within a strata-titled property. This includes coverage for dwelling structures, common hallways, roofs, and sometimes even shared swimming pools or gardens. - read more
Strata insurance, also known as body corporate insurance, is a form of cover specifically designed for properties that share ownership or have multiple units. It typically covers the building and common areas, along with liability protection. This includes areas such as the roof, stairwells, lifts, driveways, and shared spaces in residential complexes, units, or apartments. - read more
When it comes to strata insurance, making a claim can feel daunting if you're not familiar with the process. A vital first step is understanding what constitutes a claimable event. Typically, these are events that lead to damage or loss in the common areas of a property, such as fire, storm damage, or vandalism. However, each policy can vary, so it’s important to check the specifics of what your coverage includes. - read more
Strata schemes are a popular form of property ownership in Australia, particularly in cities where high-density living is common. A strata scheme is essentially a building or collection of buildings that allows for individual ownership of a part of the property, combined with shared ownership of common areas. Residents coexist in a community and collectively manage shared spaces such as gardens, driveways, or facilities. - read more
Knowledgebase
Flood Insurance: A specific type of property insurance that covers losses and damage caused by flooding.
