the dangers of non compliant building materials

 

This subject has hit headlines recently, as the owners of a high-rise in Melbourne have just been hit with a huge $8.6M bill. It was declared that the current cladding poses such a severe fire risk that the Building Appeals Board ordered it to be replaced and the 470 apartment owners responsible for the cost.

 

This scenario presses home the need to have a thorough and detailed building inspection carried out immediately post build; it can be a very difficult and drawn out process to have the builders or developers rectify this situation if left too late. Also, highlighted by this scenario is the importance of installing compliant materials from the beginning as insurers are typically not responsible for the cost of replacing non-compliant materials.

There are some insurers who carry out post build engineering risk assessments on larger properties, with the cost included in the insurance premium. This can help prevent an unfortunate situation like the one at Lacrosse Tower.

 

For more details about the Lacrosse tower issues, see The Age article below.

 

Click here.

 

 

Secure Your Association’s Future with Tailored Insurance Solutions from KBI

Protect your association’s future by partnering with a specialised insurance broker, KBI. With KBI’s Association Insurance Program, you gain comprehensive coverage designed to address your association’s unique risks. Don’t leave your success to chance—contact us today to discuss your insurance needs.

 

Let KBI be your trusted partner in protecting your association’s interests and ensuring long-term resilience. Together, we can navigate the complexities of risk management and insurance and secure a brighter future for your association.

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We are a specialist insurance brokerage with an emphasis on adding value to our clients by helping them make an informed decision. Our approach combines that of an insurance broker and consultant, where we focus on providing expert advice to our clients while customising their insurance program and risk management solutions.

 

Since starting in 2013, KBI is constantly growing and becoming a leader in the Australian market. Our primary point of difference is that we don’t try to be all things to all people. We work in niche areas, where we can tailor an offering, advice and broker support to meet the specific area’s needs.

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