Hi All,

I attended the ICA forum in Townsville Thursday and followed it up with a meeting with a JCU representative and a member of the ICA on Friday.

The risk assessment tool for strata properties is well on the way (unlike Government projects). The program includes education for those qualified to use the product once developed and those companies will be vetted properly - further details to come.

The risk assessments can be requested by any strata property from Rockhampton north which is within 100ks of the east coast.

I understand the  information to be that strata properties will be able to request an assessment at no cost, the report will be produced and remain the property of the Body Corporate. The report can then be given to insurance companies in order to get a quote, or used by the Body Corporate to identify maintenance issues, or mitigation projects, which will help lower their premiums in the future. It is not compulsory for a complex to take up the risk assessment offer, and I suspect the smaller ones won't bother.

The ICA are actively talking to, and encouraging, their members to be a part of this project in order to bring insurance companies back into the strata market in north Queensland.

It is hoped the trials will begin January 2019 and be completed by the end of February 2019 with the final project released soon after.

If anyone has any questions or concerns (like me) or wants to be part of the initial trial please email me at whitsundayinsurance@gmail.com and I will put together a list for JCU and the ICA to answer, and respond back.

To be part of the initial trial you must have the Body Corporate Committee's backing.