Australia: ICA outlines recommendations for strata complexes amidst rising insurance cost

/ Owner - December 5, 2024

The Insurance Council of Australia (ICA) has proposed recommendations to improve outcomes for consumers in strata complexes, addressing challenges outlined in a policy paper.  These recommendations aim to mitigate rising strata insurance costs, which have been driven by inflationary pressures on repair and building supply costs, higher reinsurance costs due to significant insurance losses, and the increasing frequency of extreme weather events.     Read the article…………………………….

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