Units of controversy

Shari Driver, CEO of OCN, recently spoke to Insurance News about insurance commissions.

Shari told Insurance News that: “Disclosure is a mere ‘apology after the fact’ approach that seems to put the strata manager’s interests above their client, and if that happens, legally it does not meet the standards required of fiduciaries,”

“Insurance is one of the largest expenses borne by owners’ corporations. OCN has been horrified to discover the extent of financial abuse and unethical practices within the strata sector.”

OCN says strata managers should be paid only by the owner clients. OCN supports ending commissions but increasing transparency is not enough.

OCN is one of many consumer groups calling for change and a public strata inquiry on commissions.

Full Article: /https://in-magazine.com.au/units-of-controversy/

Related Content: https://ocn.org.au/brokers-and-advocates-call-for-public-strata-inquiry/