Relief for Strata Consumers With NSW ESL Reform
- Written by SCA
Property peak body Strata Community Association (SCA) has welcomed the announcement of long-overdue Emergency Services Levy reform in NSW.
The reform should deliver welcome relief for millions of strata consumers.
SCA National President Chris Duggan said SCA has advocated extensively for the reduction of overall duties and taxes paid by strata consumers on their insurance policies.
“It’s very welcome that the NSW Government has stepped up to the plate to reduce levies on strata owners, which have made up nearly 40 per cent of the premium price in NSW on average,” Mr Duggan said.
“Strata insurance is a compulsory product, and many of our consumers have been hit hard by the recent hardening insurance market.
“We commend the ICA for their work on this issue and their work on other aligned advocacy issues for strata consumers.
“SCA is working with federal and state governments to improve funding and regulation in relation to mitigation, resilience and better building regulation and quality.
Strata managers sit in the middle of a complex web, providing value to strata communities, brokers, insurers, underwriters and suppliers through their localised knowledge of the specific strata community, the relevant legislation and regulation and their duty to act in the strata community’s best interests.
“SCA is working to deliver better outcomes in the strata insurance space, where strata managers and specialist brokers and insurers are critical to securing competitive and relevant policies,” he said.
For more details about strata insurance, visit the SCA website here.
