ACCC Advocates for Elimination of Strata Insurance Commissions

This call for reform follows investigations revealing that some strata management firms have been receiving undisclosed kickbacks from insurance companies, leading to higher premiums for apartment owners. The ACCC's stance underscores the need for greater transparency in the strata insurance market to ensure that property owners are fully informed about the costs and commissions associated with their insurance policies.

By advocating for the elimination of these commissions, the ACCC aims to promote fairer practices within the industry, ultimately benefiting property owners by reducing unnecessary costs and enhancing trust in the insurance process.