I am a first time secretary of a strata plan in a 55-unit sydney building. I received a letter from strata manager to authorise renewal of the strata insurance policy. They disclose that they receive a commission from the insurance broker.
The letter from the insurance broker has 3 quotes with the total ranging from $14K to $15K. The strata manager commission ranges from $1.3K to $1.6K included in the total. The broker fee is $600 also included in the total.
1. It seems a bit odd that the strata manager is getting a kickback. Is it a normal practice?
2. I would like to get an alternative quote from another broker. Could anyone recommend a good one?
Regards,
Lotana
The letter from the insurance broker has 3 quotes with the total ranging from $14K to $15K. The strata manager commission ranges from $1.3K to $1.6K included in the total. The broker fee is $600 also included in the total.
1. It seems a bit odd that the strata manager is getting a kickback. Is it a normal practice?
2. I would like to get an alternative quote from another broker. Could anyone recommend a good one?
Regards,
Lotana