What is underinsurance? Underinsurance is a preventable but often devastating consequence of not insuring your businesses assets or income for the full replacement value if an Insured Event were to occur. There are many ways you can be underinsured, but a few which can be more...
Celebrating Excellence at the 2024 Strata Community CHU Awards The Strata Community CHU Awards Night once again proved to be a spectacular celebration of excellence in the strata industry. CRM Brokers is proud to continue its sponsorship of the Strata Services Business Award. We extend our warmest...
In recent years, Australia has experienced a surge in fires linked to lithium-ion batteries, with devastating consequences for residents and their property. Residents of strata buildings are particularly vulnerable to these fires due to the high density of occupants and shared spaces. The once innocuous lithium-ion...
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. Danrae Group Strata Energy Services Synergy Asset Services The winner will be announced at...
CRM Brokers specialises in helping Owners Corporations secure the most appropriate strata insurance, even in challenging situations such as extensive claims history, building defects and maintenance issues. Here are some recent examples that showcase how we've helped Strata Managers and Owners achieve successful outcomes, even when...
Managing your financial obligations is crucial for an owners corporation. Regular expenses, including insurance premiums, can strain cash flow and limit your ability to make necessary upgrades or investments into the property. Premium funding offers a cost-effective way to spread your strata insurance premium over...
It's once again time to celebrate the achievements of the businesses and individuals in the strata industry We're excited to celebrate the successes of the strata industry during the upcoming Strata Community CHU Awards for Excellence. Across eleven categories, the annual awards night recognises businesses and individuals...
Simply put, underinsurance occurs when the sums insured are not sufficient to cover property in the event of a loss. In our previous article we addressed the importance of obtaining an accurate building valuation to ensure that the insurance coverage aligns with the actual rebuilding...
While securing appropriate insurance coverage is fundamental for strata property, the significance of having the correct building sums insured can often be overlooked. In this article, we address the importance of obtaining an accurate building valuation to ensure that the insurance coverage aligns with the actual...
When it comes to insuring properties with commercial tenants, regardless of whether they are strata or non-strata, the activities of the tenants play a key role in determining acceptance. It’s important for strata managers and property owners alike to have a clear understanding of the...
The growing popularity of e-bikes and e-scooters has increased concerns among strata property owners and tenants about the heightened fire risk linked to faulty Lithium-ion batteries. This surge in popularity calls for a closer examination of risk management related to these items. In January 2024, investigators...
NSW Premier, Chris Minns, is set to eliminate the Emergency Services Levy (ESL) on New South Wales property insurance, in an effort to create a fairer system for policyholders. “Reforming the Emergency Services levy is not easy, but it’s the right thing to do,” Premier Chris...
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...