Strata Insurance Commissions | Owners Corporation Network

Strata Insurance Commissions

Strata Executive Committees consist of volunteer owners or their representatives and it cannot be assumed that the management and other skills necessary to effectively run the OC will be available within this membership.  Many owners corporations (OCs) therefore engage the services of professional strata managers to assist them.  Some also engage insurance brokers to advise them on their building insurance.

OCN's policy is that, for strata managing agents to act in the best interest of the owners they represent, they should carry out their responsibilities free of conflicts of interest and not receive commissions and benefits from third parties.  Further, insurance brokers should be remunerated by a negotiated brokerage fee payble by the owners corporation.  

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PDF icon OCN Policy - Insurance Commissions.pdf164.15 KB