insurance

NSW apartments: New defects insurance scheme to protect off-the-plan buyers

2021-10-25T09:53:40+11:00

23 October 2021 Dodgy developers and bad builders who construct shoddy apartment towers that can lead to heartbreak and financial ruin for home-buyers are set to be driven out of NSW with a ground-breaking new defects insurance scheme. The DLI advisory panel comprises insurance experts, developers, financiers, strata bodies and the apartments consumer representative, the Owners Corporation Network (OCN). OCN executive officer Karen Stiles said members were excited by the news [...]

NSW apartments: New defects insurance scheme to protect off-the-plan buyers2021-10-25T09:53:40+11:00

Combustible cladding could become ACT’s ‘second Mr Fluffy’ without full audit

2021-07-29T13:03:44+10:00

21 July 2021 Sydney developer Toplace has agreed to be liable for any structural defects in its new Skyview towers complex for 20 years, in order to get buyers into their apartments. The agreement is the first of its kind and is expected to set a new benchmark of accountability for developers across the state. Dominic Gianni The Riotact.com > Read the full article here

Combustible cladding could become ACT’s ‘second Mr Fluffy’ without full audit2021-07-29T13:03:44+10:00

ACCC hands final insurance affordability report to Government

2021-01-06T09:15:20+11:00

The Australian Competition and Consumer Commission (ACCC) has concluded its three-year inquiry into insurance affordability in northern Australia by calling for broker commissions to be replaced by a fee-based system. > Read the full article in Insurance News here > Link to ACCC Project Overview

ACCC hands final insurance affordability report to Government2021-01-06T09:15:20+11:00

‘Throwing good money after bad’: Opal Tower owners struggle as costs mount

2020-09-22T18:56:42+10:00

15 JUNE 2020 Owners in Sydney's Opal Tower say they are struggling to pay for ongoing costs arising from cracks in the 36-storey building, after spending about $1 million over the past 18 months. The owners' corporation is considering a special levy to pay for fees for lawyers, engineers and other consultants, as well as $1.28 million in insurance premiums for the new financial year. Owner Andrew Neverly, 60, shut his [...]

‘Throwing good money after bad’: Opal Tower owners struggle as costs mount2020-09-22T18:56:42+10:00

NSW building inquiry targets cladding in final report

2020-09-22T19:03:10+10:00

1 MAY 2020 A NSW Upper House inquiry into the state’s troubled building industry has made 22 recommendations in its final report, including 11 that outline how the Government should handle the flammable cladding crisis. The report by the Public Accountability Committee also calls on the Berejiklian Government to grant the Building Commissioner new powers to address the “alarming problems” plaguing the industry. Building industry regulation expert Bronwyn Weir says the [...]

NSW building inquiry targets cladding in final report2020-09-22T19:03:10+10:00

2GB ‘How to Avoid Buying A Dud Property’

2020-10-08T11:58:59+11:00

11 JULY 2019 With Sydney-siders growing increasingly nervous about defective properties, here are some top tips for how to avoid buying a lemon. A third Sydney apartment block has been rendered unliveable in the space of twelve months after major defects were discovered in the buildings. With the owners of these properties essentially left high and dry by the builders and government, how will you make sure you won’t live to [...]

2GB ‘How to Avoid Buying A Dud Property’2020-10-08T11:58:59+11:00

Terrorism Cover for Residential Strata Buildings

2020-11-04T11:26:20+11:00

31 JANUARY 2012 OCN identified a need for larger strata apartment buildings to have access to the Australian Reinsurance Pool for terrorism-related events. The potential risks to the sector were identified, and the federal government lobbied to ensure strata owners and strata communities were not left without cover in the event of an incident. OCN Policy - Terrorism Cover for Residential Strata January 2012 > Download PDF

Terrorism Cover for Residential Strata Buildings2020-11-04T11:26:20+11:00
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