insurance commissions

In response to last night’s damning ABC Four Corners’ report on the strata industry, a coalition of consumer advocacy groups, including insurance brokers, has called on the federal government to launch a public inquiry. A media release cited “systemic harmful practices within the industry that compromise consumer rights and community expectations.” Tyrone Shandiman (pictured above), chair of the Australian Consumers Insurance Lobby (ACIL), said his group has already documented 146 cases [...]

The NSW government says there is “more to come” on strata reforms after last week passing legislation to improve disclosure and toughen penalties. The legislation was introduced before Four Corners put the spotlight on the strata sector. The program followed an ABC report earlier in the year focused on NSW company Netstrata. “We have heard about strata managing agents charging excessive fees and commissions when buying strata insurance and using the [...]

Consumer groups are pushing for a national inquiry into the strata management sector and a lawyers’ group has called for tougher state-level regulation following last week’s Four Corners program. The Australian Consumers Insurance Lobby, Choice, Financial Rights Legal Centre and the Owners Corporation Network of Australia are among nine groups pressing Treasurer Jim Chalmers to launch a review led by the Australian Competition and Consumer Commission or Productivity Commission. Read full [...]

After Four Corners investigated the hidden fees, secret kickbacks and developer deals strata companies were using, consumer groups are calling for action. CHOICE and the Owners Corporation Network have signed an open letter to Treasurer Jim Chalmers. They're calling for a government-instructed inquiry to look into the conduct of strata corporations. They'd also like the inquiry to investigate if current laws were adequate enough to deal with the issues raised by Four Corners. [...]

Ten top consumer groups are demanding the federal treasurer call an inquiry into the strata management industry. It follows an ABC Four Corners investigation that found many apartment owners are being ripped off by their strata management firms. The head of the Owners Corporation Network says it's time for the federal government to step in. Read full article:> Top consumer groups say 'it's time' for urgent action on strata industry, demand federal [...]