Farm Insurance NZ
Alexandra Hordern, the General Manager for Regulatory and Consumer Policy at ICA, underlined the need for full transparency in fees and charges connected with insurance purchases. The ICA strongly believes that by strengthening the disclosure requirements, the ACT can foster better transparency across the entire supply chain. This push is part of a broader recommendation to mirror some of NSW's recent reforms.
Addressing the inquiry, Hordern highlighted that the difficulties in securing insurance coverage often stem from inadequate maintenance or pre-existing building issues such as water ingress. She pointed out that volunteer owners’ committees frequently confront complex challenges in managing strata properties effectively, with maintenance often being a significant concern in these communities.
ICA's recommendations emphasise the importance of reinforcing maintenance and repair systems within strata schemes while advocating for enhanced education for committee members. However, Hordern cautioned that while imposing obligations on these committees is necessary, it should be balanced to ensure it does not discourage volunteer participation.
Alongside these calls for strata reform, ICA highlighted the growing need for lithium-ion battery safety awareness, particularly for e-scooters and e-bikes, advocating for public education campaigns on safe battery practices.
Supporting ICA's stance, Richard Kiplin, CEO of the National Insurance Brokers Association, echoed the importance of reforms aimed at strengthening strata governance, transparency, and risk management. During the inquiry, Kiplin emphasised the necessity of recognising the distinct yet complementary roles that brokers and strata managers play in this domain.
The Standing Committee on Legal Affairs has initiated an inquiry into the management of strata properties earlier this year, although a specific reporting timeline has not been disclosed yet. As the inquiry progresses, all eyes are on potential developments that could significantly affect the management and regulation of strata communities in the ACT.
Published:Tuesday, 8th Jul 2025
Source: Paige Estritori
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Natural Disaster Preparedness: Insurance Tips for Farmers Facing Adversity In the heart of New Zealand's pastoral verdure, the significance of preparedness for natural disasters is paramount for the farming industry. The distinct landscape, while providing an idyllic backdrop for agricultural pursuits, is not without its challenges. Farmers are often at the mercy of nature's unpredictability, making disaster preparedness not just prudent but essential for the continuity of their livelihood. - read more
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Customizing Your Farm Insurance: Tailoring Policies to Fit Unique Agricultural Needs Those who work the land know that every farm has its own heartbeat - its unique rhythm defined by the crops it yields, the livestock it nurtures, and the natural environment it exists within. Recognizing this individuality is crucial, especially when it comes to safeguarding your agricultural investment with the right insurance policy. - read more
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Protecting Your Farming Future: Why Machinery Breakdown Coverage is Essential Farming is a vital part of New Zealand's economy and cultural heritage, representing a way of life for thousands across the country. With its unique landscapes and diverse climate, New Zealand farmers are renowned for producing a wide array of high-quality products that serve not only the nation's needs but also supply a multitude of international markets. - read more
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