SCA Launches Best Practice Insurance Disclosure Campaign

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Strata Community Association (SCA) is proud to officially release its ‘Strata Insurance Disclosure Best Practice Guide’, which sets out necessary and critical changes to how SCA members disclose strata insurance practices.

A word on SCA’s Best Practice Insurance Disclosure Guide

SCA’s Best Practice Insurance Disclosure Guide has been in operation since last November, and enforceable under our Code of Conduct since 1 July 2024.

We’d like to thank the many members who were on the front foot and rolled out this level of disclosure in November, or even before that as part of their standard practice.

Over the next month or so, you’ll see a lot of consumer facing content from SCA such as videos, infographics and fact sheets on the topic, and we’ll be working hard to push these out through our own communications channels, as well as externally.

As you know, this best practice goes above and beyond current state, territory and federal legislation and regulation, and its implementation distinguishes SCA members from non-members, where disclosure standards are patchy or absent.

We think it’s the right thing to do for the millions of people who live in strata, for strata committees and to raise the bar for professionalism, standards and ethics in the strata industry.

Joshua Baldwin
SCA Australasia President

Best Practice

The intent of the new best practice guide and the supporting collateral is to:

  • Elevate SCA members in the eyes of strata committees and consumers.
  • Eliminate some of the poor insurance practices and bad actors who undermine confidence.
  • Build and improve relationships between strata managers, committees and consumers.
  • Give members resources to support and improve their practices, as well as explain strata insurance to consumers and committees.

The Main Components

The main components of best practice strata insurance disclosure have been summarised into three steps:

  1. Disclose – the disclosure of the eight (8) financial items of each strata insurance placement.
  2. Document – what to document and how to document it, including templates.
  3. Communicate – how and when to communicate with all parties involved.

More Information and Resources, please click on the links below;

SCA Best Practice Fact Sheet

SCA Best Practice Strata Insurance Disclosure Guide

All of these resources and additional resources can be found (and downloaded) in the disclosure section of the SCA website.