Relief for apartment owners hit by rising strata insurance premiums

Paul MortonUncategorized

modern apartment

Unexpected increases in strata insurance premiums due to risks associated with flammable cladding has left many apartment owners struggling to meet price hikes and at risk of having their insurance cover cancelled for late payment. To help owners caught out by unexpected premium increases, Lannock has released a tailored strata version of Insurance Premium Funding, an unsecured loan to a body corporate which allows owners to spread the cost of the premium over 12 months. The fixed interest loan imposes … Read More

Getting Smart About the Economics of Strata Schemes

LannockUncategorized

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Paul Morton, founder and CEO of Lannock Strata Finance, recently contributed to the autumn 2018 issue of Inside Strata magazine on ‘Getting smart about the economics of strata schemes‘. You can view the full article at Inside Strata or read the article text below. In the olden days: there were Sinking Funds and Special Levies. And in the olden days, it was simple, owners disliked both sinking funds and special levies – it didn’t matter whether it was a small … Read More

Canberra hosts Building Defects and Cladding in Strata Forum

Paul MortonUncategorized

forum

The Building Defects & Cladding in Strata Forum was held on May 16th in Canberra at the Hyatt Hotel. With over 60 stakeholders in attendance including strata managers, owners and industry suppliers, the event was a great success. Featuring a leading panel of industry experts including Erik Adriaanse (SCA National), Rob Craven (SCA ACT), Colin Grace (Grace Lawyers), Rod Tancred (Body Corporate Brokers) Craig Simmons (Access Canberra), Peter Berney (Solutions in Engineering) and Andrew Brennan (Omnii), audience members were given … Read More

Defects and Cladding in Strata Forum

Paul MortonUncategorized

defects & cladding in strata forum event banner

Be informed. Be protected. You are invited to a free evening forum on May 16th in Canberra covering what you need to know about non-complying building products, defects, aluminium cladding, fire risk, your safety, your rights and who pays. Get answers from a panel of experts covering legal, insurance, strata, construction, finance and government. Strata managers, owners, tenants and stakeholders welcome. Panellists include: Peter Berney – Solutions In Engineering Rod Tancred – BCB Andrew Brennan – Omnii Fire Engineers Colin … Read More

Strata Fire Safety Forum Brisbane

Paul MortonUncategorized

strata fire safety forum

Were you unable to make the Strata Fire Safety Forum on February 27 in Brisbane? This forum covered what you need to know about non-complying building products, aluminium cladding, fire risk, your safety, your rights and who pays? Get answers from a panel of experts covering legal, insurance, strata, construction, finance and government. You can watch the full forum below: Panellists included: Simon Barnard – President, Strata Community Australia (QLD) Peter Berney – BDM, Solutions In Engineering Andrew Brennan – Associate … Read More

Cladding risk starts to hit home for Queensland apartment owners

Paul MortonUncategorized

building

The impact of the composite aluminium cladding issue is beginning to bite as Queensland apartment owners scramble to prove their buildings are safe or face potentially crippling hikes in insurance premiums. In the lead-up to a public forum in Brisbane on February 27, at which strata industry leaders will discuss practical ways forward for apartment owners, consumers are being advised to shop around if they’re hit with a massive premium increase. The Strata Fire Safety Forum, presented by Lannock Strata … Read More

Insurance costs rise on presence of cladding

Paul MortonUncategorized

building

The presence of composite aluminium cladding is having a financial impact on strata owners as they renegotiate insurance policies. Speaking at the Lannock Strata Fire Safety Forum, Strata Community Insurance Managing Director Paul Keating said some insurers were beginning to change their approach to providing cover for cladding. “Most strata insurance policies are accidental damage based so without specific changes being made to the wording by the insurer, there should be no immediate impact to existing cover,” said Mr Keating. … Read More