ICA Advocates for Strata Law Reform in the ACT to Enhance Building Management

0

Alexandra Hordern, the General Manager for Regulatory and Consumer Policy at ICA, underlined the need for full transparency in fees and charges connected with insurance purchases. The ICA strongly believes that by strengthening the disclosure requirements, the ACT can foster better transparency across the entire supply chain. This push is part of a broader recommendation to mirror some of NSW's recent reforms.

Addressing the inquiry, Hordern highlighted that the difficulties in securing insurance coverage often stem from inadequate maintenance or pre-existing building issues such as water ingress. She pointed out that volunteer owners’ committees frequently confront complex challenges in managing strata properties effectively, with maintenance often being a significant concern in these communities.

ICA's recommendations emphasise the importance of reinforcing maintenance and repair systems within strata schemes while advocating for enhanced education for committee members. However, Hordern cautioned that while imposing obligations on these committees is necessary, it should be balanced to ensure it does not discourage volunteer participation.

Alongside these calls for strata reform, ICA highlighted the growing need for lithium-ion battery safety awareness, particularly for e-scooters and e-bikes, advocating for public education campaigns on safe battery practices.

Supporting ICA's stance, Richard Kiplin, CEO of the National Insurance Brokers Association, echoed the importance of reforms aimed at strengthening strata governance, transparency, and risk management. During the inquiry, Kiplin emphasised the necessity of recognising the distinct yet complementary roles that brokers and strata managers play in this domain.

The Standing Committee on Legal Affairs has initiated an inquiry into the management of strata properties earlier this year, although a specific reporting timeline has not been disclosed yet. As the inquiry progresses, all eyes are on potential developments that could significantly affect the management and regulation of strata communities in the ACT.

Published:Tuesday, 8th Jul 2025
Source: Paige Estritori

Share this news item:

Insurance News

ICA Advocates for Strata Law Reform in the ACT to Enhance Building Management 08 Jul 2025: Paige Estritori The Insurance Council of Australia (ICA) is urging the Australian Capital Territory (ACT) to adopt strata transparency regulations, aiming to enhance oversight of building repairs and maintenance by owners’ committees. This call was made during a parliamentary inquiry, where the ICA pushed for measures akin to recent legislative changes in New South Wales. - read more

Tasmanian Government Insurance Proposal Faces Industry Backlash 07 Jul 2025: Paige Estritori The Tasmanian government's recent proposal to establish a state-run insurance entity has drawn significant criticism from key players in the insurance industry. The plan, spearheaded by Premier Jeremy Rockliff, aims to expand the Motor Accidents Insurance Board into a broader service named TasInsure, offering products including home and contents insurance, small business coverage, and more. The RACT, a major player in Tasmania's insurance sector, expressed considerable concern, labelling the initiative as a simplistic answer to complex problems. - read more

Asbestos Scare Leaves Hospitality Business Uninsured 04 Jul 2025: Paige Estritori The discovery of asbestos-contaminated mulch in a Sydney park led to the cancellation of a festival, resulting in significant financial losses for a hospitality business. Despite these setbacks, the company's claim for coverage under its business interruption (BI) policy was rejected. - read more

Landmark NSW Decision: Dog Walking Costs Covered in Car Crash Injury Claims 03 Jul 2025: Paige Estritori In a groundbreaking decision by the NSW Personal Injury Commission, an insurer has been directed to cover the costs of dog walking services for a car crash victim. The commission ruled that these services classify as domestic assistance under the state’s Motor Accident Injuries Act. This case could pave the way for broader interpretations of 'attendant care services' for claimants. - read more