Cash settlement insurance claim from body corp, possible?

[Tone]

Hello.

Can anyone confirm if this is possible for building damage to a lot managed by a strata company. Located in QLD.

Cheers

 

[Scott No Mates]

If the bc is self insured they can do whatever it likes. What is the question?

 

[Tone]

Just wanted to know if its possible, not a lot of insurance companies are all for it.

 

[Scott No Mates]

It comes down to whether the bc may believe that paying the excess and any increase in premiums would be more than paying the claim directly from the sinking fund. The insurer's attitude doesn't matter (they're in it for the money).