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...
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...
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...
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...
Back in May 2022, we wrote about Why are Strata Insurance Excesses Increasing and discussed standard minimum excesses being increased to $1,000 across a number of insurers. Recently CHU Underwriting Agencies distributed an important update for their policyholders in relation to this, which we have...
With recent escalations in inflation have you considered if your property is underinsured? 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. The importance of having adequate levels of insurance...
CRM Brokers announce the Strata Services Business Award 2022 On Friday 29 July, the strata industry gathered at The Star for the annual SCA (NSW) CHU Strata Community Awards. When presenting the CRM Brokers’ Strata Services Business Award, Damien Coorey, affirmed our commitment to the strata industry...
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. Clean Green Strata Facilities Management Strata Energy Services The Shower Repair Centre The winner...
Claims Procedures for Strata Managers The Strata Manager is to complete the online Strata Claims Notification Form or email their completed form to incidents@crmbrokers.com.au. A CRM Brokers' Claims officer will assess the submission prior to lodging the claim with the insurer. The insurer upon receipt of the claim...
Why are strata insurance excesses increasing? A trend found across strata insurance (both for new business and renewals) is that there’s an increasing number of insurers raising their standard minimum excess, so that it is now $1,000 for all claims. The common factors amongst underwriting agencies use...
The Importance of Maintenance in Strata Buildings Steadfast Group has provided feedback on a common theme that keeps re-emerging in Residential Strata claims. A poor standard of maintenance and known maintenance defects are a major contributor to or cause of losses, particularly in older strata buildings. This...
It's once again time to celebrate the achievements of the businesses and individuals in the strata industry SCA (NSW) recognises excellence in the NSW strata industry at the Annual CHU Strata Community Awards for Excellence. Across eleven categories, the annual Awards recognises and rewards businesses and individuals...
What a La Niña event means for property and business insurance The Bureau of Meteorology (BOM) recently declared Australia is on La Niña watch, which means we may be in for another extremely wet summer. Australia is well known for its extreme weather conditions. Bushfires. Floods. Cyclones....