We’ve got your levies covered
The levy cover product which was created by STILUS in 2010, is presently unique to the ONE Sectional Title Products underwritten by Mutual and Federal Risk Financing Ltd and provides, in essence, a guaranteed cash flow for Body Corporate Schemes and Homeowners associations. The complexes’ most important asset is its levies. Complexes with guaranteed cash flows are enabled to pay their creditors promptly and most importantly have funds available to maintain their properties in a pristine condition. As a consequence, there should be fewer and smaller claims against their material damage insurer’s policies. There is no doubt that attractive and well managed complexes will invariably have a higher market value than run-down dilapidated properties.
All Complexes are obliged to insure their members’ units via a material damage policy. The Levy cover is being sold as an additional benefit on the ONE Sectional Title Product.
There is undoubtedly a symbiotic relationship between the Insurance Company and Levy Guarantee cover, which all concerned parties can enjoy. The ultimate beneficiaries are of course the individual members of the Bodies Corporate and Homeowners Associations because their investments are not only insured against any unforeseen fire or storm damage to their properties, but also against the risk of any members’ defaulting on their levies.
Only the Best
Treating Customers Fairly
Treating Customers Fairly – is the basis underlining all Stilus endeavours in the marketing and implementation of assessment of Levy Claims.
The Insurer’s levy cover in respect of legally recoverable levies comes with the essential proviso that clients must prove “good governance” is in place when the policy is incepted.
Our mission is …
To provide liquidity through a secure levy
We are confident that we have created a product
that provides quality levy income protection
with the correct value pricing