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Elective – Underinsurance in Strata – Are you protected?(1 Hour)
March 23, 2021 @ 8:00 am - March 22, 2022 @ 11:59 pm
$35.00Licence Class: Class 1, Class 2
CPD Allocation: 1 Hour
CPD Category: Elective
CPD Learning Area: Property Transaction & Legal Requirements
Method of Delivery: This is a Webinar (On-Demand), available to be watched and the assessment completed at your convenience, on the SCA e-Learning Platform any time before the end of the CPD Year (23 March 2021 – 22 March 2022).
Course Format:
- Recorded Webinar
- Online Assessment
Presenter:
- Steven Tchepak, CHU
Topic Overview:
- Replacement value: OC legal obligation to insure
- Importance of valuations
- Questions for the valuer; particularly if building sum insured reduced
- All parties must exercise duty of care
- Potential legal exposures: OBL or Strata manager if not referred to the OC for approval
- Partial loss vs total loss; no averaging clauses in residential strata insurance
- Unlimited legal liability, if shortfall in sum insured and a total loss
- Common property vs personal property; L&C for personal property and liability within the lot
Learning Outcomes:
Participants will gain an understanding of the legal obligations to ensure strata title properties, whose responsibility this is and how to identify and minimise any risks and/or legal exposure.
Assessment Delivery and Certificates
Assessments are multiple-choice. Access to assessments is provided to students on the SCA e-Learning Platform.
Upon successful completion of assessments, students will receive their Certificates via email, and can download them from the SCA e-Learning Platform at their convenience.
Education Terms and Conditions can be found in our Education Handbook.