The ABS recently published the Index for the quarter ended December 2018. Contrary to the annual uplifts of 5% being offered by most strata insurers, we are witnessing a sustained flat-lining in construction costs, similar to what we saw in the four years after the 2009 GFC. The Index is proving useful to our members
The ACCC has today released its Northern Australia Insurance Inquiry first interim report. The report invites submissions on draft recommendations and we would welcome your participation in this consultation. Submissions are due on 12 April 2019.
Each year, your body corporate must insure the whole building, including the owners’ lots, for the full replacement cost. An independent valuation must be obtained stating the full replacement cost of the building, at least every five years. The question is, how do you determine the ‘full replacement cost’ in the intervening years? It is
2.10: A 5% INCREASE!! TELL’EM THEY’RE DREAMING… Insurance Premium Gouging…the insurers are at it again. October 2018 and we find ourselves marking a decade since the Great Recession hit in the wake of the collapse of the Lehman Brothers’ investment bank. Australia did manage to avoid the harsher impacts of the crisis – but there
Strata insurance is compulsory, expensive, and contains many risks. One of the big risks involves the Building Sum Insured (BSI). Getting it right is not easy… getting it wrong can cost you lots of money. This applies to both over-insurance (premiums too high), and under-insurance (cover too low). Over-Insurance can be expensive Much has been