Insurance reviewed in region
THE Natural Disaster Insurance Review Forum, held at the Coral Sea Resort on Tuesday night, attracted more than 70 people, many of whom are seeking solutions for a Body Corporate insurance situation that is rapidly becoming a desperate plight.
At present a rising number of North Queensland unit owners in strata complexes are defaulting on Body Corporate instalments due to substantial increases in the premiums imposed by insurance companies.
Representatives from the Queensland Insurance Division (QUID) of Whitsunday Ratepayers Association (WRA) attended Tuesday's event, which spokesperson Margaret Shaw described as an opportunity for people to "air their opinions".
Ms Shaw praised the speakers - Mark Shaw of Strata Community Australia (SCA) and Brad Robson of Strata Unit Underwriters (SUU).
She also said she thought SUU were unfortunate in trying to justify the unjustifiable.
Mr Robson, who took a number of very direct questions from the floor, said he was "not surprised" by this response. "We understand the increases in insurances have caused hardships in certain circumstances but we're certainly doing everything in our realms to try to minimise insurance rises and work with the broader community to better understand the drivers behind the increases," he said.
The Whitsunday Times will include a full report on Body Corporate insurance issues affecting the region in next week's edition.