With the recent tragic fire in Grenfell London, the government and insurance companies are more aware and interested in the type of cladding (if any) your building contains. The Department of Fair Trading, Australia wide have said they will start taking action concerning non compliant cladding. They want to minimise the risk and so should you.
If your building has cladding don’t immediately panic! It may still be safe if you have other safety features installed such as fire protection items, like sprinklers. First step if cladding is present is to try and find out more details about the material, such as manufacturer or brand.
Liaise with your strata manager and review potentially old archived records that may identify the cladding. Lastly once you have found this out, work with the strata committee to develop a risk management plan and shoot it through to your insurance company for their records. Ask their advice on what next to do. You will find insurance companies usually are willing to assist, offer constructive advice and recommend an expert consultant in the correct field to help you.
As a strata manager I would always advise an owners corporation to let their insurance company know of any risks within the building and confirm you still have cover. Insurance is one of your largest yearly purchases so you may as well make sure you building is more than adequately covered.
We proudly use BCB Insurance Brokers to help guide us through the complex world of strata insurance.
Need a Strata Manager that cares? head to Strata Revolution’s website.
Michelle Russell – Managing Director
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