ACIL seeks feedback on strata insurance practices

Initiative follows uncovering of over 140 instances of questionable industry practices

ACIL seeks feedback on strata insurance practices

Insurance News

By Roxanne Libatique

The Australian Consumer Insurance Lobby (ACIL) is seeking feedback through a national survey, aiming to identify and address concerns within the strata insurance sector.

The survey’s goal is to gather wide-ranging insights and experiences from affected parties.

“Our objective is to compile a robust evidence base that can inform advocacy for meaningful change and industry reform and ensure that the push for transparency and reform isn’t solely carried by ACIL,” said ACIL Chairperson Tyrone Shandiman.

ACIL’s strata insurance survey

The survey is designed to attract a broad spectrum of participants, including businesses that have been negatively affected and insiders with direct experience in the industry, such as employees or former employees of strata management firms, insurance brokers, and related businesses.

ACIL assures all participants of the confidentiality of their responses. Individuals are given the option to contribute anonymously, ensuring that their experiences can be shared without fear of reprisal.

“We understand the sensitivity of this information and are committed to ensuring the privacy and security of our respondents,” Shandiman said.

The deadline for participation is set on April 3, 2024.

The initiative is a direct response to ACIL’s uncovering of 146 instances of questionable practices, which were subsequently reported to the Australian Securities and Investments Commission (ASIC) and the Australian Competition and Consumer Commission (ACCC).

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!