Finalists Announced for the Strata Services Business Award This year the SCA (NSW) received a record number of entries for the CHU Strata Community Awards. The Strata Services Business Award is designed to recognise excellence in performance of Strata Services. It specifically recognises a business that has...
Issues found by Loss Adjusters and how to avoid them Most common issues found by a Loss Adjuster when assessing a claim 1. Inadequacy of Sums Insured, particularly in Business Interruption sections 2. Lack of early mitigation strategies 3. Delay’s in Insured’s providing necessary documentation to progress claim 4. Underlying...
Nominations are now open for the Strata Services Business Award CRM Brokers is pleased to announce our sponsorship of the Strata Services Business Award at the 2018 CHU Strata Community Awards (NSW). The Awards Night provides an exceptional opportunity to acknowledge and reward amazing businesses and individuals...
Strata Building Bond and Inspections Scheme The new Strata Building Bond and Inspections Scheme is set to commence on 1 January 2018. The Scheme is a Government response to the City Futures Research Centre 2012 Report which found 85% of respondents, in buildings built since 2000, indicated...
How can cladding affect your insurance claim? Cladding is considered a popular material used to cover a building’s external wall or roof due to its light weight, architectural features, resistance to corrosion and many other benefits. A cladding material currently in focus is Aluminium Composite Panels...
Ten-point plan for fire safety reforms Responding to the issues around London’s Grenfell Tower fire, the NSW Government announced a Ten-point plan to ensure unsafe building products are taken off the shelves, buildings with cladding are identified and notified and that only people with the right...
Understanding how the various sections of a Strata Insurance policy respond to a claim is paramount, as it could affect your chances of making a successful claim. In general, a Strata Insurance policy consists of the following sections:- Building Liability Fidelity Guarantee Office Bearers Liability Voluntary...
Updates from Insurers on the collection of ESL Insurers are moving as quickly as they can to reinstate the collection of the emergency services levy (ESL) on insurance premiums for property located in NSW. This is taking some time, as the government’s decision to defer the...
Asbestos Register: Important requirements for Strata Managers Not all Strata Managers or Owners Corporations may be aware of the requirements under the Work Health and Safety Act 2011 where there is Asbestos presence at the premises they manage. An integral part of CRM Brokers' role is to...
Strata Managers can now add Public Liability & Management Liability to their Professional Indemnity insurance program [vc_separator type="normal" thickness="3"] Strata Managers often focus on the tangible exposures that they deal with on a day to day basis, however, managing all business risks is critical and often liability exposures are left...
Strata Reforms: Considering Reinstatement Costs Strata reforms have a significant impact on the value a building is insured. As of 30 November 2016, Strata Managers will need to consider replacement and reinstatement costs, not just replacement costs as per the previous Act. What are reinstatement costs? Reinstatement costs...
Strata Reforms: Fact or Myth? The new strata law reforms are designed to bring strata laws up to date with modern times, covering a broad range of topics from pet ownership to the length of strata management contracts. We have previously covered some of those changes...
Does your Professional Indemnity policy wording suit your business? Not all strata businesses are alike. And not all professional indemnity policies are alike. For instance, let’s say you’re an Authorised Representative (providing insurance general product advice) and your staff are Sub-Authorised Representatives also providing general product advice. Does...
Strata Law Reforms As you are aware, the Strata Schemes Management Bill 2016 will commence on 30th of November 2016. The reforms cover a wide range of topics with a number of them related to Strata Managers, of note are the following...
CRM Brokers' Claims Team is here to assist We hope your weekend did not result in your properties experiencing any damage. However, if you have had an unfortunate experience with flooding or storm damage, then please contact us immediately on 1300 880 494 or fill out CRM Brokers'...
The Importance of Product Disclosure Statements We draw your attention to all the Product Disclosure Statements that currently apply to those Strata Insurers with whom we place business, on your behalf. This Product Disclosure Statement (PDS) is an important document. You should read it carefully before making...
Not all claims conveniently occur during business hours...
Catastrophic power surge to office block Case studies highlight the need for specific types of insurance policies. Together with Vero Insurance, we have highlighted one such claim related to a power surge. An electrical arc developed in the vertical busbar which traveled 8 floors of a 30...
Major changes to strata laws With the first major reforms to strata laws in over 40 years, you can be certain that CRM Brokers is here to help you understand the proposed changes and how they affect you and your business. The proposed changes include: Modern forms of...
Short term letting, long term headache The issue about short term letting has been an ongoing problem for owners corporations and body corporates for many year. Common causes of conflict are: Lots being use as backpacker accommodation Lots being used for short term holiday accommodation Lots being...