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Common Policy Details

It is important that you advise alterations to the following list of insured Companies and businesses and/or
list of products.

Your insurers have assessed and accepted the risk at an agreed premium on the basis of the information
given. Any variations of these details, if not advised to them, could result in an uninsured loss.

The Insured

Owners Corporation No 627030V and

(a) subsidiary companies, organisations and other associated companies as defined under Section
50AAA of the Corporations Act 2001 (Commonwealth), and

(b) social and sports clubs (including the committees and officers from time to time of unincorporated
bodies)and the trustees of the Insured's superannuation and pension funds and welfare
organisations, and

(c) all organisations and other entities to whom (whether mortgagees, lessors, joint ventures or other
parties with a legal or equitable interest in the Property Insured) the named Insured has a
responsibility to maintain insurance;
all for their respective interests, rights and liabilities and to the extent that they are not more
specifically insured. &/or subsidiary companies and/or those acquired or incorporated during the
period of insurance.

The Business and Products

Principally Property Owner of Residential Strata and all activities incidental thereto.

Scope of Cover

Physical loss or damage howsoever caused (except as maybe specific and excluded) to the Insured

Situation &/or Premises

Principally 515-545 Rathdowne Street, Carlton VIC 3053 and any other situation/premises in Australia
owned or occupied by the Insured for the purposes of the Business or elsewhere in Australia where used
by the Insured or where the Insured is undertaking work or has goods or property (including where goods
or property are stored, or undergoing processing, repairs, maintenance, overhaul or improvements).

Strata Insurance

Property Damage

Includes cover for physical loss, destruction or damage to the property as a result of events defined by the
policy wording. This includes unforeseen damage caused by fire, storm, water damage etc. This does NOT
include flood, tidal wave or wear and tear, depreciation of the buildings.

There is also cover for damage to common area contents including common area fixtures and fittings,
carpets, plants, artworks etc. This does NOT include the individual lot owners contents.

Loss of rent is covered if the lot is leased out and temporary accommodation for lot owner occupying the
lot, and cannot be occupied if damaged in an event noted in the policy wording.

Building $ 27,631,800
Loss of Rent/Temporary Accommodation $ 4,144,770 or 15% of building sum insured
Insured Property (common area contents) $ 276,318 or 10% of building sum insured


Lot Owners Fittings and Fixtures $ 300,000 per lot
Mortgage Discharge $ 50,000
Money $ 10,000
Arson or Theft Reward $ 10,000
Modification Expenses $ 25,000 per unit
Loss of Land Value $ 500,000 or 50% of the sum insured
whichever is the greater

Legal Liability

Provides cover for personal injury and property damage to third parties for which the Owners Corporation
is responsible for.

Legal Liability $20,000,000


Provides coverage for the loss of Owners Corporation funds as a result of theft, embezzlement,
misappropriation, conversion or fraud.

Sum Insured Limit $ 100,000 per person in the aggregate

Personal Accident (Voluntary Workers)

Provides cover for death or injury to persons engaged in voluntary work (work without reward or

Capital Benefit $ 200,000
Weekly Benefit $ 2,000

Strata Insurance

Government Audit Costs

Provides coverage for costs incurred following notification of an audit or investigation by the necessary
regulatory bodies.

(a) Government Audit Costs Limit of Liability $ 25,000
(b) Workplace Health & Safety Breaches $ 100,000
(c) Legal Defense Expenses $ 50,000

Workers Compensation

Not Insured

Officer Bearers Liability

Provides coverage for wrongful acts committed by those acting in their capacity as Office Bearer including
representation costs and defence costs

Sum Insured Limit $ 500,000

Machinery Breakdown

Not Insured


1. Government Audit, Workplace Health & Safety Breaches $ 250
2. Legal Defence Expenses $1,000
2. All Other Claims $1,000


Vero Insurance Limited

Policy Wording

Longitude Strata Insurance LONGRSI 02