Section 100 of the Unit Titles (Management) Act 2011 which governs Units Plan complexes states that:
An owners corporation for a units plan must insure and keep insured all buildings on the land for their replacement value from time to time against all of the following risks:
(a) fire, lightning, tempest, earthquake and explosion;
(b) riot, civil commotion, strikes and labour disturbances;
(c) malicious damage;
(d) bursting, leaking and overflowing of boilers, water tanks, water pipes and associated apparatus;
(e) impact of aircraft (including parts of, and objects falling from, aircraft) and of road vehicles, horses and cattle;
(f) anything prescribed by regulation.
LINK Strata Management ensures each Units Plan that we manage is adequately ensured and complies with the Act.