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 weeks wrap for strata managers covers four items: ARPCs cyclone pool now reinsures about 3.2 million properties, including roughly 73,000 strata buildings, with over $1 billion in claims paid; first‑quarter market pricing eased, with many property placements down 11–20% while catastrophe‑exposed risks remain under scrutiny; a federal inquiry heard calls to review civil liability settings amid a highly litigious environment, reinforcing the need for strong liability controls in common areas; and ASIC warned AI is accelerating cyber threats, prompting strata managers and committees to lift basic cyber hygiene and review coverage. Visit insurance-for-strata.com.au for support.
EPISODE 1801 | Insurance for Strata Weekly News Wrap | Sat, 9th May 2026
15 May 2026 | Paige Estritori
00:00:00
00:00:00
1x
Read Full Transcript:
Hello and welcome to Insurance for Strata Weekly News Wrap with me, Paige Estritori, on Saturday, 9 May 2026.
First, cyclone risk and premiums. New data this week shows the Australian Reinsurance Pool Corporation, or ARPC, now reinsures about 3.2 million properties in cyclone‑exposed regions, including around 73,000 strata buildings, and has paid out more than a billion dollars in cyclone‑related claims since launch. Average pool premiums are sitting at roughly $780 for strata but vary by location and risk. For committees in northern Australia, check whether your building is ceded to the pool, confirm wind, storm surge and flood settings, and record mitigation works so your broker can evidence any resilience benefits at renewal.
Next up, pricing momentum. A first‑quarter market update points to Australian insurance prices easing, with many property placements down by about 11 to 20 per cent, while underwriters stay cautious on flood and other catastrophe exposures. For strata schemes with sound maintenance, clear defect remediation plans and clean claims histories, this environment can support more competition. Make sure sums insured, valuations and building data are current so your broker can approach the market early and compare options.
Meanwhile, liability pressure isnt going away. At a federal inquiry this week, industry leaders warned that Australia is viewed as highly litigious and urged a review of civil liability settings. For strata, that means keeping your public liability risk tight: maintain incident logs, lighting and signage; control contractor access; and keep safety checks up to date across common property. It can help both with claims defensibility and with how insurers view your risk profile.
Finally, a cyber reminder. Australias corporate regulator, ASIC, cautioned that artificial intelligence is accelerating cyber threats and asked boards to table its letter and lift cyber basics now. Strata managers and committees often hold resident data and run portals, so treat cyber like any other building service: use multifactor authentication, restrict admin access, patch promptly, and ask your broker whether your strata policy includes any cyber extension or if separate cover is worth exploring.
Thats the wrap. For clear comparisons, compliant coverage and steady help on claims, head to insurance-for-strata.com.au and well support your next renewal with confidence.
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 bolster the resilience of strata communities against cyber threats, CHU Underwriting Agencies has integrated cyber protection into its standard residential strata insurance policies. This enhancement provides coverage of up to $50,000 for losses resulting from social engineering fraud, a form of cybercrime where perpetrators impersonate trusted contacts to manipulate payment instructions. - read more
CHU Underwriting Agencies has introduced an indicative pricing feature designed to provide brokers with immediate, non-binding premium estimates. This innovation aims to improve pricing visibility and reduce delays in the quoting process, enabling brokers to deliver better outcomes for their clients. - read more
CHU Underwriting Agencies has released its 2025 State of the Strata Market report, providing 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, maintaining affordability for apartment owners. - read more
In a significant development for New South Wales' strata sector, Productivity Commissioner Peter Achterstraat has recommended the prompt prohibition of commissions received by strata managers. This move aims to safeguard the interests of apartment owners, especially as strata living becomes increasingly prevalent in Sydney. - read more
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
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 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
Strata insurance is a vital component of property ownership in Australia, particularly for those involved in apartment living or owning units within a shared building. It provides financial protection against various risks, ensuring that common areas, building structures, and shared amenities are covered in the event of damage or loss. This type of insurance is not just a safeguard for individual owners but a legal necessity, mandated by Australian law. - read more
Knowledgebase
Claim: A formal request made by the policyholder to the insurance company for payment of a loss covered by the insurance policy.
