Effective 1 July 2019, new obligations commence in NSW requiring the provision of year on year price comparisons with insurance renewal communications for specified classes of insurance – including strata.
A breakdown of separate line costs for the NSW Emergency Service Levies, taxes and duties; and details of fees charged by insurance intermediaries will be shown.
Strata Community Insurance customers in NSW have already been receiving comparative premium information with their insurance renewal for some time.
As from 1 July, 2019 the information provided will be amended slightly. Although these new obligations are only mandated in NSW, Strata Community Insurance considers it to be best practice – in the interest of transparency and disclosure – to provide all of its customers with this important information.
The following communications have been prepared to assist you: