Strata Communities Endorse Call for Enhanced Resilience Reforms
Strata Communities Endorse Call for Enhanced Resilience Reforms
0
Strata communities are at the forefront of Australia's resilience battle, facing escalating costs, declining coverage, and prolonged recovery periods following disasters.
Strata Community Association Australasia (SCA) has expressed strong support for the Insurance Council of Australia's (ICA) recent call for coordinated, long-term resilience reforms to protect communities from these challenges.
Economic pressures are driving up construction and repair costs, leaving households, businesses, and strata schemes struggling to rebuild after disasters. SCA President Joshua Baldwin emphasized that the ICA's Catastrophe Resilience Report underscores mounting insurance pressures and the growing urgency to protect communities from disaster.
In high-risk regions, recurring disasters are eroding resilience and deepening vulnerability. SCA supports the ICA's call for coordinated long-term reform, with greater investment in resilience infrastructure, stronger and more resilient buildings in safer locations, and removal of insurance taxes.
These collaborative efforts aim to enhance the resilience of strata communities, ensuring they are better prepared to withstand and recover from future disasters, ultimately safeguarding property owners and residents from escalating costs and prolonged recovery periods.
Published:Monday, 23rd Feb 2026 Source: Paige Estritori
In its recently released 2025 State of the Strata Market report, CHU, Australia's leading strata insurance underwriting agency, provides a comprehensive analysis of the current state of the industry. The report indicates that strata insurance premiums have experienced a modest increase of 2.8%, rising from an average of $954 to $981 per lot annually in the year leading up to June 2025. This increment is notably lower than the 14% surge observed in house insurance premiums during the same period. - read more
The Insurance Council of Australia (ICA) has recently called for substantial reforms to Victoria's strata legislation, citing a direct correlation between inadequate governance and escalating insurance premiums for residents. With approximately one in five Victorians residing in strata-titled properties, the need for effective management and oversight has become increasingly critical. - read more
Strata communities are at the forefront of Australia's resilience battle, facing escalating costs, declining coverage, and prolonged recovery periods following disasters. Strata Community Association Australasia (SCA) has expressed strong support for the Insurance Council of Australia's (ICA) recent call for coordinated, long-term resilience reforms to protect communities from these challenges. - read more
Allianz Australia has been honoured with the top accolade in the Comprehensive Home Insurance category at the 2026 Finder Product Awards. This recognition underscores the company's dedication to delivering high-quality insurance solutions tailored to the needs of Australian homeowners. - read more
Australian homeowners are facing a growing protection gap as escalating home insurance premiums render adequate coverage increasingly unaffordable. Recent data indicates that average home insurance premiums have risen by 16% over the past year, with some insurers implementing hikes exceeding 30%. - read more
Income replacement benefits are designed to provide financial support when you're unable to earn a salary due to illness or injury. They act as a safety net, ensuring you can maintain your lifestyle and meet ongoing expenses during unexpected interruptions. - read more
For Australian farmers, having the right insurance coverage isn't just a safety net—it's an integral part of sustaining their livelihood. Natural disasters, unpredictable climate conditions, and the inherent risks of agricultural production underline the critical importance of robust insurance for the agricultural community. As farmers navigate the complexities of insurance, understanding the basics becomes the first step toward securing their assets and ensuring the continuity of their operations. - read more
Financial security is crucial in today's unpredictable world, where unexpected events can disrupt the stability and comfort of our daily lives. For Australians, protecting one's income and lifestyle from unforeseen circumstances is a key component of personal finance. - read more
Life insurance is a contract between an individual and an insurance company. The insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. - read more
Hello to all the self-employed Aussies out there! Embarking on the journey of self-employment brings with it a unique set of challenges and freedoms. One area we often overlook is the need for a solid financial safety net, customized to our varied incomes and work lifecycles. That's where income protection insurance steps in as a critical component for ensuring financial stability. - read more
Start Here !
Apply now for your free Income Insurance assessment and price
comparisons!
All quotes are provided free and without obligation. We respect your privacy.
Knowledgebase
Coinsurance: A percentage of the cost of a covered healthcare service that you pay after you have paid your deductible.
