We would like to emphasize the significance of timely claim notification for strata insurance policies. Whilst we understand that there may be valid reasons for a delay, it is essential that a policyholder notify the insurer as soon as reasonably possible. In most cases the timely...
We understand that navigating strata insurance policy wordings can often raise questions, and we have recently had several enquiries relating to Temporary Accommodation and Loss of Rent benefits during claim time. We're here to provide some clarity on these common questions. Temporary Accommodation and Loss of...
Celebrating Excellence at the 2023 Strata Community CHU Awards We were delighted to once again sponsor the Strata Services Business Award at the Strata Community CHU Awards Night. The event brought together outstanding individuals and organisations to be recognised for their commitment to excellence in the...
In today's equipment-intensive buildings, ensuring comprehensive protection against the costs of unforeseen breakdowns is paramount. The increasing integration of technology into our daily lives, exemplified by the rise of electric vehicle charging stations within buildings, has heightened the exposure to potential risks and underscores the...
The rising trend of Electric Vehicle (EV) sales is crucial to Australia's commitment in achieving net zero emissions by 2050. According to the National Electric Vehicle Strategy, up to 80% of EV charging takes place at home. As a result, the increased number of EVs...
Finalists Announced for the Strata Services Business Award The independent judging process has been finalised and the results are in! Congratulations to the following finalists for CRM Brokers sponsored Strata Services Business Award. Austrata Finance BME Group Civil Fire Havencab Property Group Strata Energy Services The winner...
The recent surge in construction costs has made underinsurance a significant focal point within the insurance industry. In the simplest terms, underinsurance occurs when the sum insured on an insurance policy is insufficient to cover the full cost of rebuilding, repairing or replacing the building. Given...
Recently CHU Underwriting Agencies and Flex Insurance distributed an important update for their strata insurance policyholders in relation to workers compensation, which we have published below with their permission. Strata Community Insurance has confirmed that Workers Compensation is available through their strata insurance policy in Western...
Boost your business’s cybersecurity with the ACSC’s refreshed guide and new video In light of the rising number and complexity of cyber security attacks, it is critical to stay informed and implement proactive steps to protect your business. The Australian Cyber Security Centre (ACSC) has recently introduced...
CHU and FLEX have announced that their strata and build to rent portfolios will be entering the ARPC Cyclone Reinsurance Pool in July 2023. This measure will assist property owners with affordability and access to suitable insurance products. CHU’s residential and commercial strata portfolios, FLEX’s strata...
The theme for this year's Privacy Awareness Week, organised by the Office of the Australian Information Commissioner (OAIC), is 'back to basics.' The message behind the theme is that while our information and technology landscape has got a lot more complicated, privacy remains fundamental. And that...
We're excited to celebrate the successes of the strata industry during the upcoming Strata Community CHU Awards for Excellence. The annual Awards Night recognises and rewards businesses and individuals who have made significant contributions to the strata industry and community across eleven categories. We at CRM Brokers...
Ken Masina Joins Industry Panel to Discuss Strata Insurance As a panellist at the Johns Lyng Group and Lannock Strata Finance Networking Event, Ken Masina, Head of Claims at CRM Brokers, engaged with other industry experts, including Chris Frazer and Melissa Gallagher, in a discussion about...
Why a 12-month insurance policy is beneficial for Owners Corporations With increased costs of living at the forefront of everyone’s mind, we have recently had some requests from Owners Corporations for insurance policy periods of less than twelve months as a way to manage their expenses. When...
Carpet is a popular flooring option for many Australians, and this is no exception in strata properties. However, most lot owners don’t understand why Residential Strata Insurance policies do not include coverage for carpet damage inside the lot. Strata insurance is designed to provide cover for...
In December 2022, we wrote about the Change to the CHU Strata Policy Excess. Since then, SUU has communicated a similar policy for properties in NSW, QLD, ACT, and NT with a building sum insured of less than $100 million. Changes to SUU Standard Excess We communicate with...
Recent escalations in construction costs mean that if your property has not been valued in the past 12 months, there is a likelihood it is underinsured. Whilst it is commonplace for insurers to communicate the importance of adequate levels of insurance, this message is more critical...
We would like to take this opportunity to wish our valued clients a happy and prosperous year! In the coming year the CRM Brokers team will continue to offer the high-quality broking and claims management services for which we are known. Additionally, in 2023 we will...
Insurance Tip - Building Defects A proactive approach to defect identification and rectification benefits all parties involved placing the insurance to protect a property. Being on top of defects and ensuring that Owners Corporations have a plan in place to resolve them will improve insurance coverage and...
Understanding Flood Cover When purchasing property insurance, it's crucial to understand the specific risks your property faces. One significant threat is that of a flood, which can cause widespread damage and disruption. The definition of "flood" In 2012, the Australian Government regulated a standard definition of the word...