Each week, Insurance for Strata brings you a clear, no-fuss wrap of the biggest Australian strata and insurance stories. We filter regulatory updates, premium trends, weather and catastrophe impacts, building compliance developments, and notable claims decisions into a quick, reliable brief. Designed for committees, strata managers, and property stakeholders, it helps you stay informed, spot emerging risks, and understand what’s changing across states—so you can make confident, timely decisions without wading through headlines.
This Week:
This week: heightened summer storm and hail risk prompts early preparedness for strata buildings; a new flood tool using first‑floor elevation may deliver sharper flood pricing for some properties; ongoing construction cost inflation lifts rebuild values, making updated sums insured essential; and a major developers administration is extended, with practical steps for committees awaiting completion. Clear, actionable pointers help strata managers and committees protect common property, stay compliant and work with brokers for tailored cover.
Hello and welcome to Insurance for Strata Weekly News Wrap, Im Paige Estritori, and its Wednesday, 23 September 2026.
First, the summer outlook is sharpening. A senior TV meteorologist has issued an unusually strong warning for giant hail this season, as Australia comes off one of its hottest winters on record and about four billion dollars in insured losses last financial year. For strata committees, that means prepping now for storms: clear gutters and drains, secure rooftop items, and make sure your policy settings for hail, storm and temporary accommodation are up to date. A quick check with your broker today can help avoid avoidable costs when storms hit.
Next up, a new flood assessment tool could change premiums for some buildings. Early modelling suggests around one in eight at‑risk properties could see the flood part of their premium fall by about half when insurers price using first‑floor elevation, not just postcode flood maps. If your buildings lowest occupied floor is raised, gather plans or a survey showing floor heights and ask your broker to have insurers reassess. Better risk data can mean sharper, more tailored pricing and coverage.
Meanwhile, construction costs have surged again. Since 2019, average build costs have climbed by a bit over fifty per cent, and theyre still rising in many states. For strata, that pushes replacement values higher, so sums insured set even a year or two ago may now lag. Consider an updated valuation so repairs to common property, services and shared facilities are properly covered if the worst happens.
And finally, a major developers administration was extended by 12 months this week, aiming to keep more homes and apartments moving toward completion. If you manage or sit on a committee in a new or near‑complete scheme, stay close to your builder, developer and insurer, keep defect records tidy, and confirm how cover transitions at settlement and registration. Clarity here helps protect owners while projects find their footing.
Thats the wrap. For support, broker access and competitive, compliant strata insurance options, visit insurance-for-strata.com.au.
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.
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Knowledgebase
Loss of Use: Insurance coverage that pays for the additional living expenses if your home is uninhabitable due to a covered loss.
