Sectional title legislation in community schemes

Trustees are guided by the Community Schemes Ombud Services Act (CSOS Act) and the Sectional Title Schemes Management Act (STSM Act) when it comes to insurance and related aspects of a sectional title scheme. The regulations to these Acts control aspects of the community scheme and may be amended from time to time. The Sectional | Read More

Property improvements not covered by buildings insurance policies

All policies define what an insured building is and may not clarify what building or property improvements are excluded from the cover. These definitions and exclusions may differ slightly from insurer to insurer but generally very similar. In this blog, we draw attention to the generally excluded improvement items. Common exclusions from cover include dam | Read More

Valuable resources for insurance-related issues at trustee meetings

As insurance advisors or the insurance companies are not able to attend every trustee meeting where insurance matters will be discussed, we have introduced an updated, useful resource to be used in conjunction with the Sectional Title Insurance Guide or at AGMs. Think of it as an insurance song sheet that ensures everyone is on | Read More

Why different types of insurance risk must be disclosed

Over the past two weeks, we dealt with the use of sections for short term rentals. This week we focus on differences between residential and commercial use. In addition to residential sections, some body corporate complexes also consist of offices or other small retail outlets. This in itself does not pose any problem for insurers. | Read More

Update on short-term rentals in sectional title schemes

In our blog last week, we mentioned various concerns with regards to some insurers’ approach to short-term rentals. We stated: “SASRIA (South African Special Risks Insurance Association) do not consider Air B&B or short-term holiday accommodation letting as a residential risk; therefore, it should not enjoy favourable SASRIA premium ratings.” As of last week, this | Read More