August 2018 – Home office and body corporate insurance

Committees are often concerned about the impact of a lot occupier’s home office in a residential complex.  There are relevant BCCM adjudications that have upheld the use of a home office providing all by-laws are being respected (such as not causing a nuisance).  Different councils have different rules about whether approval of the office is required.  Generally, councils […]

Insurance valuation

Cost conscious Committees may sometimes believe an insurance valuation is unnecessary or they believe their insurer is providing this valuation. The requirement under the Act states an independent insurance valuation must be undertaken once every five years. Insurance companies and insurance brokers could be considered independent, but these organisations do not furnish a Body Corporate […]

Fire

Sadly, this month we had to deal with a devastating event when a lot in one of the Bodies Corporate that we manage burnt down. Fortunately, functioning smoke alarms alerted the occupiers to danger and the family exited quickly and safely, immediately calling the fire brigade. The family was shocked at how quickly the fire […]

Why we use an insurance broker

We recently started a new Body Corporate scheme on behalf of a developer.  At the first AGM, there were many new owners who had never been part of a Body Corporate in Queensland.  There was much confusion about insurance, and specifically about the insurance that a lot owner might have and the insurance that a Body Corporate […]

Insurance denied!

We heard recently of a case where a Body Corporate on a Standard Format Plan was denied insurance.  The buildings in the Body Corporate had common walls and so the insurance needed to cover the buildings as well as the common property.  An insurance inspection report had uncovered deficiencies in many of the lots (related to the […]

Hold Harmless – Why we use our own contract

Be very careful when entering into contracts with Body Corporate Managers.  You may find a ‘Release and Indemnity’ clause in the contract which in summary says that the Manager can not be sued by the Body Corporate.  Additionally, the Body Corporate is responsible if the Manager is sued by some other party even if the Manager contributed […]

Insurance confusion

In Building Format Plans, the Body Corporate is responsible to insure the buildings on scheme land.   Most insurance policies include cover for anything that is ‘plumbed in’ to the building.  This would include stoves, airconditioning units, solar panels, rainwater tanks.  Insurance coverage addresses events such as fire, theft, motor fusion, storm and consequential damage.  It does not address […]