The Strata Insurance Market is a complex environment. Insurers have been dealt a significant blow in recent years by the Queensland and NSW Floods, with approximately $5.74b in claims made. Insurers are taking decisive action to recoup losses from natural disasters and other claims, such as raising premiums or deductibles,...
Last year, we invited all buildings with lifts to join in a Bulk Renegotiation to streamline lift maintenance contracts. With this project, our goal was threefold: standardise terms of service and associated fees, guarantee comprehensive coverage throughout the contract, and strengthen negotiation power when establishing new contracts by consolidating expiration dates....
