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Trustees AGM Questions
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Insurance Preparation

Insurance Questions Trustees Should Ask Before the AGM

Before an AGM, trustees should be ready to explain the scheme’s insurance position in a practical way. Owners may ask about premiums, excesses, geysers, valuations, claims and whether the body corporate is properly protected.

These questions help trustees prepare for a clearer insurance discussion before the AGM.

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Insurance Insights / Trustees / AGM Preparation

1. Is the building sum insured still realistic?

Trustees should be able to explain how the building sum insured was determined and whether a recent replacement valuation is available.

  • When was the last valuation done?
  • Does the valuation include all relevant structures?
  • Has the insured value increased with building costs?
  • Is there a risk of underinsurance?

2. What changed since last year?

Owners may focus on the premium, but trustees should also review changes in excesses, limits, exclusions and policy conditions.

  • Did the premium increase?
  • Did any excess increase?
  • Were any limits changed?
  • Were any new exclusions or conditions added?
  • Did the claims history affect renewal terms?

3. What are the main excesses owners should know about?

Excess disputes are common. Trustees should understand and explain the important excesses before claims happen.

  • Standard excess
  • Geyser excess
  • Water-damage excess
  • Storm excess
  • Electrical or machinery excess
  • Who may be responsible for the excess

4. Are geyser and water-damage claims clearly handled?

Geyser and water-damage claims often involve urgency, owner frustration and confusion over responsibility.

  • What does the policy say about geysers?
  • Is resultant damage covered?
  • What is excluded as maintenance?
  • Who arranges the plumber or service provider?
  • Who receives the claim payment?

5. Is public liability cover enough?

Common property creates liability exposure. Trustees should know what limit applies and whether the scheme’s risk profile has changed.

  • What public liability limit applies?
  • Does the scheme have pools, gates, stairs, parking areas or busy common areas?
  • Are incidents recorded?
  • Are maintenance complaints followed up?

6. Are trustee indemnity and fidelity cover included?

Trustees should not ignore the covers that protect decision-making responsibilities and scheme funds.

  • Is trustee indemnity included?
  • What limit applies?
  • Is fidelity cover included?
  • Who handles scheme funds?
  • Are banking controls documented?

7. What claims happened during the year?

A claims summary helps trustees discuss risk and maintenance patterns clearly.

  • How many claims occurred?
  • Which claims were rejected or reduced?
  • Were there repeated geyser or water problems?
  • Were owners unhappy with any outcomes?
  • What can be improved before next year?

8. Should the trustees request an insurance review?

A practical insurance review before the AGM can help trustees answer questions more confidently.

  • Review the schedule and renewal terms
  • Check the excesses and main limits
  • Identify missing documents
  • Highlight underinsurance concerns
  • Prepare a simple summary for the meeting
Need help? Lowensvlei Insurance Brokers can assist trustees, body corporates and managing agents with practical sectional title insurance reviews. Visit our Sectional Title Insurance Review page.
Questions

Common questions

Should insurance be discussed at the AGM?

Yes, insurance is often an important AGM discussion point because trustees and owners need to understand cover, sums insured, renewal terms and risk concerns.

What should trustees prepare before the AGM?

The policy schedule, renewal terms, replacement valuation if available, claims history and a summary of key excesses are useful starting points.

Can owners ask about the body corporate policy?

Yes. Owners often ask about geysers, excesses, water damage and whether their section is covered. Trustees should answer carefully and refer to the policy wording where needed.

Should trustees request help before the AGM?

Yes, especially where there were difficult claims, premium increases, high excesses or uncertainty about replacement values.

Prepare insurance answers before the AGM.

Lowensvlei Insurance Brokers can help trustees review the policy and prepare clearer insurance information before the next AGM.

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