Residential Strata

The Axis Residential Strata insurance policy is rich in features and benefits and will help brokers provide quality insurance solutions for managing agents and body corporates of Residential Strata properties. The product provides broad cover and caters for a wide range of Residential Strata risks.

As with all Axis products the Residential Strata product is only available through brokers.

Some of the features and benefits of our Residential Strata policy wording are:

Buildings (including Common Area Contents)

  • Insured against accidental damage
  • Up to 15% of the building sum insured for loss of rent and temporary accommodation costs
  • Catastrophe protection option – up to 30%

Public or Legal Liability

  • Legal Liability for personal injury and property damage up to $20,000,000

Personal Accident

  • Voluntary workers – death and loss of earning

Fidelity Guarantee

  • Fraudulent misappropriation of funds
  • External auditor fees up to $5,000

Machinery Breakdown

  • Accidental breakdown cover – as per sum insured

Office Bearers Legal Liability

  • Legal liability of Office Bearers
  • Defence costs

Government Audit Costs & Legal Expenses

  • Health and Safety Appeals
  • Government Audit
  • Legal Defence costs

 

For any risk incepting from 1st June 2019 onwards, The Axis Residential Strata Insurance Policy is underwritten by XL Insurance Company SE, Australia Branch (ABN 36 083 570 441), part of the AXA XL division of the AXA Group. For any risks with inception dates prior to 1st June 2019 the Axis Residential Strata Insurance Policy is underwritten by Lloyd’s of London.

This is a summary only and does not form part of the Product Disclosure Statement or Policy Wording. Axis does not provide advice on this insurance based on any consideration of your objectives, financial situation or needs. Policy terms, conditions, limits and exclusions apply. Before making a decision please consider the applicable Product Disclosure Statement and Policy Wording – AXISRESPOL 072021

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