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Alert · 7 December 2011 |
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MacGillivrays |
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Flood Insurance Policies and Strata Title |
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The catastrophic floods in Queensland, New South Wales and Victoria have prompted the Federal Government to take action on two fronts.
Changes to strata title insurance policies is a possibility; due to a parliamentary investigation and introduced proposed laws. The Federal Government will investigate the affordability of residential strata title insurance in a new inquiry. It will be taking submissions up until 16 January 2012. Strata title insurance cover is also under scrutiny with a new Bill proposing to make changes to insurance policies that relate to cover for flood. Details about inquiry submissions can be found here. The Bill can be viewed here.
Article by Michael Kleinschmidt, Partner Property & Strata Services, MacGillivrays Solicitors
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PLEASE NOTE: This article is not legal advice and our comments are of a general nature only. This document is not to be relied on as substitution for proper detailed legal advice. Liability limited by a scheme approved under professional standards legislation.
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