Insurance for Strata :: News
SHARE

Share this news item!

Sure Insurance's Enhanced Strata Coverage: A Boon for Queensland

Addressing Affordability and Access Challenges in the Strata Insurance Market

Sure Insurance's Enhanced Strata Coverage: A Boon for Queensland?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

In a significant move to tackle affordability issues and improve access to insurance, Sure Insurance has increased its residential strata insurance cover to $20 million in replacement value for apartment complexes.
This expansion aims to include higher-valued apartment complexes and boost competition in Northern and Regional Queensland.

Bradley Heath, Managing Director of Sure Insurance, highlighted the affordability crisis faced by body corporates and lot owners in these regions. He noted that the crisis has been exacerbated by some insurance providers exiting the residential strata market, effectively reducing competition and placing upward pressure on premium prices. Many body corporates were faced with the prospect of not being able to adequately insure their complexes or were forced to source residential strata insurance cover from offshore providers.

By increasing cover from $5 million to $20 million, Sure Insurance aims to offer more competitive premium options. This expansion is expected to benefit more than 500 strata complexes in the $5-$20 million range, based on rough estimates.

Heath also mentioned that Sure Insurance plans to reward well-managed body corporates that have taken steps to enhance the resilience of their complexes with reduced premiums. The residential strata insurance from Sure Insurance will be available through its network of authorised brokers throughout Regional Queensland.

Sure Insurance was acquired by Steadfast Group in November 2023, when the insurance broking network purchased a 70% stake in the firm for $148.8 million. Steadfast CEO Robert Kelly commented that Sure represents a real opportunity for the group, noting its unique value proposition not just in North Queensland but potentially Australia-wide over time.

Published:Tuesday, 24th Feb 2026
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Insurance News

NSW Productivity Commissioner Calls for Ban on Strata Manager Commissions
NSW Productivity Commissioner Calls for Ban on Strata Manager Commissions
05 Apr 2026: Paige Estritori
The New South Wales Productivity Commissioner, Peter Achterstraat, has recommended the prohibition of commissions received by strata managers for securing insurance and other contracts. This move aims to enhance transparency and protect the interests of apartment owners, especially as strata living becomes increasingly prevalent in Sydney. - read more
Grace Insurance Strengthens National Presence with Add Insure Darwin Acquisition
Grace Insurance Strengthens National Presence with Add Insure Darwin Acquisition
05 Apr 2026: Paige Estritori
Grace Insurance has announced the acquisition of Add Insure, a well-established brokerage based in Darwin, Northern Territory. This strategic move, set to finalise on 20 April 2026, marks a significant milestone in Grace Insurance's national expansion strategy and its entry into the strata insurance market. - read more
Flex Introduces 'Flex Complex' for High-Risk Strata Properties
Flex Introduces 'Flex Complex' for High-Risk Strata Properties
28 Mar 2026: Paige Estritori
In October 2025, Flex, a strata underwriting agency, unveiled 'Flex Complex', a new insurance product designed to provide coverage for strata buildings facing challenges in securing insurance due to complex risk factors. This initiative aims to fill a significant gap in the market by offering protection to properties that have traditionally struggled to obtain mandatory strata insurance. - read more
CHOICE Advocates for Government Inquiry into Undisclosed Strata Insurance Commissions
CHOICE Advocates for Government Inquiry into Undisclosed Strata Insurance Commissions
28 Mar 2026: Paige Estritori
In September 2024, consumer advocacy group CHOICE, along with several allied organizations, called for a government inquiry into undisclosed commissions and conflicts of interest within the strata insurance industry. This demand follows a CHOICE investigation that revealed widespread backroom dealings between strata management companies and insurance brokers, leading to increased costs for unit owners. - read more
Click for more Insurance News


Strata Insurance Articles

The Role of Executive Committees in Managing Strata Insurance
The Role of Executive Committees in Managing Strata Insurance
Strata insurance is a type of cover specifically designed for properties where multiple individuals own individual units within a larger complex. It plays a vital role in protecting these complexes financially by covering buildings and common property from potential risks. For property owners, understanding strata insurance is essential to ensure both compliance with legal requirements and adequate protection of their investment. - read more
Understanding Strata Insurance: A Guide for Apartment Owners
Understanding Strata Insurance: A Guide for Apartment Owners
Strata insurance is a specific type of insurance policy designed to cover common property and areas shared by owners within a strata-titled development, such as an apartment complex. This unique insurance is crucial for apartment owners as it ensures financial protection against unexpected events affecting the building structure and common facilities. It typically covers parts of the property like the building’s exterior, lobbies, and gardens. - read more
Strata Insurance FAQs: Your Most Pressing Questions Answered
Strata Insurance FAQs: Your Most Pressing Questions Answered
In Australia, strata insurance is a crucial part of property ownership, offering peace of mind and financial protection. It's essential for property owners to understand what strata insurance entails and why it's so important. - read more
Key Factors That Affect Your Strata Insurance Premiums
Key Factors That Affect Your Strata Insurance Premiums
Strata insurance is a specialized form of coverage tailored for property owners living in multi-unit complexes. Understanding its intricacies can be crucial for ensuring that all aspects of shared ownership and communal property responsibilities are adequately protected. - read more
Knowledgebase
Actuary:
A professional who analyzes the financial costs of risk and uncertainty using mathematics, statistics, and financial theory.
Quick Links: | Strata Insurance Australia | Strata Insurance Policy Strata Insurance Coverage Strata Insurance Cost Strata Insurance Requirements Strata Insurance Providers Strata Insurance Quotes Strata Insurance Comparison Strata Insurance Benefits Strata Insurance Claims Strata Insurance Legislation
This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.
IMPORTANT: We act solely as an introducer and refer enquiries to licensed third-party brokers, insurers, and lenders. We do not provide financial product advice or credit assistance. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should independently verify the credentials and licensing of any adviser or provider you engage. Visit the ASIC website for further information.