Independent strata study

The Insurance Council of Australia engaged the Cyclone Testing Station to conduct a review of insurance claims on strata properties that resulted from recent cyclones. The aim of this study was to identify factors that may be contributing to insurable losses. By increasing the awareness of all parties, including insurers, property owners and strata managers, to some of the key factors that affect losses, it may be possible to focus on opportunities to reduce risk and limit premiums. This pilot study has been based on Terms of Reference developed by the ICA Strata Insurance Working Group, as included within the report. The report also notes issues that are beyond the scope of the report.

Download the report by James Cook University’s Cyclone Testing Station here

 

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