NIBA's weekly e-newsletter, Broker Buzz, is packed with the latest industry and product news, regulatory updates, forthcoming events and seminars.
Strata in WA is changing with amendments to the Strata Titles Act 1985 now confirmed to commence on 1 May 2020.
Those involved with strata properties and developments including insurance brokers are encouraged to familiarise themselves with the changes and the associated timings. There are grace periods for some new requirements to ensure those affected have adequate time to meet them.
The Strata WA website has been updated to now include:
· Support and resources – to feature new resources and FAQs over the coming month
· A summary of what’s changing – that you can download to easily reference, print or share with someone
· A timeline for change – showing grace periods for select new requirements.
Online guides and presentations will be made available in the latter part of April 2020. Later this month, Landgate will publish new and updated strata resources.
A series of online presentations on the following key topics will also be released:
· Consolidating by-laws
· Seller disclosure
· 10-year maintenance plan and reserve fund
· Resolving common strata disputes.
These presentations will substitute the content of Landgate’s April 2020 community readiness sessions which are no longer going ahead due to COVID-19.
NIBA has welcomed an ICA report calling for a national approach for the movement of essential disaster recovery and management personnel across state borders.
Key information for brokers and insurers regarding LOA's and LARQ's
The NSW Government has announced a new Personal Injury Commission has begun operations
The Insurance Council of Australia (ICA) has welcomed the commencement of proceedings in the Federal Court of Australia to test the application of further issues in relation to pandemic coverage in business interruption policies