How to Make Sure That the Resident Unit Manager Is Adequately Covered

If you are responsible for the management of a strata owned facility, where many individual owners occupy part of a larger building, then you know that you have to deal with all eventualities and make sure that you can provide an adequate service to all concerned. You need to appoint a resident unit manager, who can be the contact point for all of these issues and who can help to provide feedback to the rest of the management team. This particular position can be quite demanding, however, especially when you consider all the risks and potential liabilities to which they are exposed. How can you make sure that you are adequately covered so that this service can be provided efficiently and without worry?

Plenty of Risk

Unfortunately, Australia is now a very litigious society, and people are used to lodging a lawsuit at the first opportunity. Of course, it is never possible to account for all eventualities and crucial, therefore, that the resident unit manager has the appropriate insurance policy in place.

Coverage in All Areas

This type of coverage should be two-dimensional, and they should get both professional indemnity and public liability coverage, due to the complexity of their work.

It's not unusual, for example, for claims to be lodged against the manager should somebody slip and fall, or should they claim that equipment in common areas was not maintained correctly, leading to a loss. Public liability insurance can cover the manager against claims that somebody sustained property damage or bodily injury, but it does not, by itself, cover for a breach of professional duty.

This is why the manager needs to have the relevant indemnity insurance in place as well. In this case, they can be protected against any claim for negligence or omission or error when they were conducting their professional duties.

Two in One

It's best to get both of these coverage products provided by one insurance company if possible, as this will help to provide streamlined coverage and support whenever a claim materialises. It's worth remembering that these products can be tailor-made to the individual situation as well, so you should talk with a broker to fully address all levels of exposure before applying for coverage.

Being Prepared

This type of environment can be a minefield for management companies without the proper level of protection. It's best to anticipate the worst-case scenario if you want to sleep more easily at night.

For more information about resident unit manager insurance, work with a local insurance company. 

About Me

Offering Employees Insurance as a Benefit: An Insurance Blog

As an employer, you have the hard job of attracting qualified talent to your business. Part of that involves creating a nice work environment or paying adequate wages, but another side of the equation is the benefits you offer. While you have to offer a certain amount of holiday and illness leave, you don't necessarily have to offer insurance products, but doing so can be a helpful way to attract and keep talent. If you want to learn about using insurance to motivate your employees, please take a look at these posts. My name is Lena, and I have worked with insurance in a range of capacities – as an insurance agent, as a financial adviser, as an employer and as an employee. That gives me unique perspective from all sides. Please, get comfortable, take a look at these posts, and learn how to reward your employees with insurance coverage.


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