Strata

Strata Insurance NSW

In recent times we have received a number of enquiries regarding Lloyd’s Underwriters’ authority to write strata business in NSW. We address these queries below.

The NSW Strata Schemes Management Act 1996 states that insurance must be taken out with an approved insurer. The NSW Fair Trading website stipulates that approved insurers are those authorised by APRA for general insurance.

Lloyd’s Underwriters are authorised to write insurance business in Australia pursuant to Section 93 of the Insurance Act 1973, and are regulated by APRA. Sections 65 to 73 of the Act provide for special Australian policyholder protection provisions associated with Lloyd’s. A$2.3B security is held in Australian Trust Funds (figure as at 31 December 2014).

Should you wish to find out more about the Lloyd’s market, we have included some links below.

Related Links

    APRA website

For more information on Lloyd’s Underwriters authorised status visit; http://www.apra.gov.au/GI/Pages/Lloyds-in-Australia.aspx

    Lloyds Security

To view further information on the financial security of the Lloyd’s Market visit; http://www.lloyds.com/lloyds/investor-relations/lloyds-capital-structure

    Lloyd’s in Australia

Click this link to read more;
http://www.lloyds.com/lloyds/offices/australasia/australia

Commission Increase for Commercial Strata

Great news!

Axis is increasing commissions for Commercial Strata Insurance.

Axis has a leading position in the Commercial Strata market particularly in mixed tenancy industrial risks. We are very pleased to announce a 5.0% increase in commission to our supporting brokers for this product.

We will now pay brokers 20.0% commission on all Commercial Strata policies.

20.0% commission will apply to all new and renewed Commercial Strata policies incepting on or after 01.07.2015.

This means Axis will now pay 20.0% on both Commercial and Residential Strata.

Call the team at Axis to place or renew your Commercial Strata policies.

Melbourne:  03 8660 7000
Sydney:         02 9216 7200
Brisbane:      07 3007 3600

Click below to download our Commercial Strata Proposal Form:
Commercial Strata Proposal

Click below to download a copy of the Policy Wording:
Axis Commercial Strata Policy – from 01.07.2012 – v4/2012

Axis Underwriting announces major improvements to Commercial Strata policy

Axis Underwriting is a leading Strata Insurance market for commercial, industrial and mixed tenancy strata risks.

Today, Axis Underwriting’s Managing Director, Gary Dawson, announced major changes to its Commercial Strata Policy.