In this week's insurance news wrap, Paige Estritori discusses CHU's 2025 Strata Market report outlining the affordability of strata insurance premiums, an in-depth review of weather events, and regulatory policies in various areas of Australia. Emerging challenges such as building defects and lithium-ion battery fires are spotlighted, indicating that affordability, climate resilience, and regulatory compliance will be key to the future of the strata sector. Also, the Strata Community Association of NSW is set to phase out insurance commissions from January 2026, in a move towards a fee-for-service model aimed at enhancing transparency, pricing clarity, and industry trust. However, this transition could bring about financial adjustments. The move aligns with recent reforms aimed at contract transparency and sustainability, with potentially transformative effects on over 91,000 schemes in strata management practices.

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