New cladding legislation could affect you
Major legislative changes are coming in to combat the fire risk of cladding. These changes may affect your building.
CHU is Australia’s leading Aluminium Composite Panels (ACP) underwriting specialist and has continued to support the strata industry by offering solutions to buildings with ACP.
To date, CHU has not declined to offer insurance cover for an owners corporation due to the presence of ACP.
To help you understand the changes and what they mean to you, CHU has prepared fact sheets on the changes for the states affected so far – NSW, Victoria and Queensland. Links to the General ACP and state specific fact sheets are below.
In brief, the change in legislation means that some owners corporations/body corporates may be required to register their buildings if they have external combustible cladding and may require rectification work.
NSW also recently imposed a building product use ban on any ACP with a core comprising of greater than 30% polyethylene. If the owners corporation receive a rectification order relating to banned ACP, the ACP may have to be removed and/or replaced.
Are you ready for what these changes mean for you and your body corporate?
Contact your strata manager or broker to discuss how CHU can help you