CRM Brokers announce the 2019 Strata Services Business Award On Friday 26th of July, the strata industry gathered together at The Star for the annual SCA (NSW) CHU Strata Community Awards. The independent judging panel of academics and industry stakeholders were thoroughly impressed with the number of entries...
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...
Combustible cladding in the headlines again As the new year kicks into gear, combustible cladding remains firmly in the headlines after a fire at a Spencer Street residential tower on Monday 4th of February. Melbourne's Metropolitan Fire Brigade reported that combustible cladding was the "main contributor" to...
The most common and costly landlord insurance claims QBE Insurance has revealed that severe weather and leaky pipes are the biggest headaches for Australian landlords and are the cause of far more insurance claims than tenants failing to pay the rent. Storm and flood claims account for 34...
Fallout from the NSW Hailstorms The Insurance Council of Australia declared the December 20 storms a catastrophe, with over 25,000 claims totaling $125 million, received in the first 48 hours after the event. This was the fifth catastrophe declared in 2018 by the Insurance Council. In March,...
What is combustible cladding? Certain types of cladding can burn rapidly if it catches alight. Problems with metal composite panels and insulated cladding systems relate mainly to multi-storey buildings because of the potential for rapid fire spread via the external areas of the building. These products...
Water Damage Can Be Avoided Managing common claims and understanding the Owners Committee’s responsibility can be complex. Did you know that water damage is one of the most common causes of strata claims? Many of these claims can however be avoided with a good preventative maintenance...
CRM Brokers announce the 2018 Strata Services Business Award On Friday 3rd of August, the strata industry gathered together at the Four Seasons Hotel for the annual SCA (NSW) CHU Strata Community Awards. The independent judging panel commented on the number of entries and high quality of submissions...
Fire Risks and Aluminium Composite Panel (ACP) In recent years, there have been several incidents, both locally and internationally, that have brought the use of ACP (aluminium composite panels) into the public spotlight. The Lacrosse Building in Docklands Victoria and the Grenfell Tower in London have...
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...
Are Strata Plans Eligible for Stamp Duty Exemptions? One of the most common questions we have received after the announcement of the NSW Small Business Stamp Duty Exemptions, has been whether or not strata plans are eligible. For the purposes of the Exemptions, Revenue NSW has stated that...
Rising Strata Insurance Premium - Is It Manageable? You may be aware that strata insurance premiums have started creeping up since last year. Strata insurers have advised us that market conditions and the other contributing factors such as changes in underwriting guidelines, CPI, increasing reinsurance costs and rising...
Not sure about your Building Sum Insured? We often discuss the importance of having the correct Building Sum Insured on your insurance policy, and understand that obtaining a professional valuation every year may not be feasible. Determining the level of insurance required for a property can be...
Home Building Amendment (Cladding) Regulation 2018 The NSW Government released the Home Building Amendment (Cladding) Regulation 2018 on April 20. The Amendment inserts a new Clause (69A Major defect in building—external cladding) which updates the definition of "major defect" in section 18E (4) of the Home Building Act 1989 (NSW)...
Regulation for Cladding Shortly after the Grenfell Tower fire tragedy, the NSW Government announced a wide-ranging fire safety package in response to the fire safety risks posed by external wall cladding. Compulsory Checks As part of the package, the NSW Government announced they would make checks for combustible cladding...
Is it time to review your cover limits? CRM Brokers would like to remind the Owners Corporation how important it is at each renewal to ensure the Sum Insured they select complies with section 161 of the Strata Management Act 2015 and clause 39 of the...
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...
Strata Building Defect Bond Scheme Deferred Until 2018 NSW Fair Trading has officially deferred the building defect bond scheme. The scheme will now only apply to construction contracts signed (or where there is no contract and building work commences) from 1st of January 2018. Fair Trading announced...