StrataRatings, an independent ratings agency providing insurance buyers with an evaluation of Strata insurance products, has released their inaugural set of 2018 strata ratings.

Simon Plummer, Managing Director, StrataRatings states that, “the ratings have been established to assist Owners, Strata Managers and Brokers in purchasing Residential and Commercial Strata products. StrataRatings recommend that in conjunction with other considerations; such as risk exposures, policy endorsements, policy limitations, excesses and price, the ratings provide a level of transparency and an understanding as to how a product will generally perform.”

The methodology used for the rating process considered an average strata scheme and their exposure to common risk.  A series of questions were designed; focusing on policy conditions, claims, product availability and features and benefits.

The ratings ranked Strata Community Insurance No 1 out of all insurers and awarded a Platinum Product status for both its Commercial and Residential policies.  Platinum Product status was only given to 3 policies in each category which saw Strata Community Insurance ranked 1st out of 22 for residential strata products and 1st out of 13 for commercial strata products.  Findings noted Strata Community Insurance as “a very strong performer with a solid fundamental structure and innovative coverage.”

Paul Keating, Managing Director, Strata Community Insurance stated; “We are delighted to receive this independent endorsement from StrataRatings as the No 1 Strata Insurance Product in the market. Together with our claims service, competitive pricing and being backed by the world’s largest property and casualty insurer; the Allianz Group, we are proud of our offering to the market. Their acknowledgement supports part of our strategic intent of building truly authentic and valued products for the strata industry. With the broadest cover available in the market, Strata Community Insurance is focused on driving innovation and transparency for the benefit of owners and their insurance intermediaries.

About Strata Community Insurance

Strata Community Insurance provides specialist products and services to the Strata and Community Title sector. Strata Community Insurance is a privately-owned company partnering with the Allianz Group – the largest property and casualty insurer in the world.

Strata Community Insurance is a business founded, owned and staffed by a group of Australia’s most experienced strata insurance professionals.  The founders have four decades of experience across six countries developing products and writing this form of insurance business.

Dealing exclusively in the strata insurance market, they understand the complexities of the sector and its governing legislation.

Contact Paul Keating – paul.keating@scinsure.com.au
Paul Keating
Managing Director
Strata Community Insurance

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