Commercial Strata Insurance
Retail, office, industrial and mixed-use schemes carry exposures a residential policy is not written for: tenant fit-outs that nobody has recorded, higher fire loads, GST on the sum insured, and the rent that stops for every lot when a building closes.
The building, the rent and the committee behind them
A fire in one tenancy that closed the whole centre
An illustrative example of how Ardent can make the difference in a time of need.
A fire started in a single tenancy of a mixed-use scheme. The damage to that unit was contained, but smoke and the loss of power shut the building, and every lot owner lost their rent while it was made good.
Loss of rent was written into the strata policy with an indemnity period long enough for a commercial rebuild, and we lodged it alongside the building claim in the same week. We pushed for a progress payment so the scheme could start the make-good without waiting on final settlement.
The building was reinstated and rent was covered for every lot across the closure. The scheme did not have to strike a special levy to fund the repairs.
This is an illustrative example. Every claim is assessed by the insurer on its own facts and under the terms of the policy.
Our Commercial Strata experts
QPIB · Dip. Fin. Serv. (Ins Broking) · ANZIIF (Snr Assoc) CIP
Mining, aviation, construction, retail and property
Steve has 40 years in insurance, most of it in construction and civil engineering, with underground mining, aviation, national retail and property development alongside. He is one of Ardent's founders, works from inside a client's business and keeps those relationships for the long term.
QPIB · Dip. Fin. Serv. (Ins Broking) · ANZIIF (Snr Assoc) CIP
Compliance, management and corporate clients
Eliza has worked across claims, personal insurance, small and medium businesses and corporate accounts. Before co-founding Ardent she managed a portfolio of ASX-listed companies, investment funds, and Lloyd's specialty and international placements. She now leads Ardent's compliance and management and still looks after her own clients, working as one of their team.
QPIB · Dip. Fin. Serv. (Ins Broking) · Dip. Integrated Risk Management · ANZIIF (Snr Assoc) CIP
Risk management and program design
Stephen co-founded Ardent and has 17 years in insurance, with clients from sole traders to multinational corporates. He works through the risks a business faces and helps decide what to avoid, reduce, retain or insure, balancing cover against cost. He has served on the committee of NIBA's NSW Mentoring Program.
What a client says about Ardent
Read the full review on GoogleEliza is beyond wonderful.
My apartment suffered water damage, leading to a long and complicated claim. Eliza acted as my broker, liaising with the insurer and coordinating everything.
From our very first conversation, she was warm and calm, while also clearly knowledgeable and organised. She kept me informed every step of the way and was always willing to answer my questions. When complications arose, Eliza went above and beyond to advocate on my behalf. She even took the time to discover details that I had completely overlooked, including an additional reimbursement I was entitled to. Her attention to detail was exceptional.
Although the claim went on for several months due to building complications, Eliza was always patient, proactive, and genuinely invested in helping me from beginning to end. She made what could have been an incredibly stressful experience so much easier to navigate. I always felt I was in truly capable hands.
I also spoke with a few members of Eliza's team while she was out of the office, and they were all friendly and helpful. This speaks volumes about the culture of the company.
I cannot speak highly enough of Eliza.
I will always be grateful for her wonderful support.
Commercial Strata FAQ
The strata policy covers common property and usually the base building as it stood at registration. A tenant's fit-out, stock, plant and glass are generally theirs to insure, and so is their own business interruption. Fit-outs are where commercial schemes most often find a gap: the work was done years ago, nobody recorded who owns it, and two insurers each say it belongs to the other.
It depends on whether the scheme is registered for GST and can claim an input tax credit on a rebuild. A registered scheme insuring a GST-inclusive figure is paying premium on money it would get back. An unregistered scheme insuring a GST-exclusive figure may fall short at claim time. We ask about the scheme's position rather than assuming it, and the scheme's accountant can confirm it.
Long enough to demolish, get approval, rebuild and re-let a commercial building, which is rarely twelve months. Approvals and trade availability move that number, and a heritage overlay or a difficult site moves it again. We set the period against the building rather than against a default.