February 20, 2025
Can insurers cancel a scheme’s policy and if so, why would they?
As trustees of a sectional title scheme, one of your key responsibilities is to ensure that your community remains properly insured. This is clearly set out in the Sectional Tite Schemes Management Act 8 of 2011 (STSMA) itself as well as its regulations and rules. The Community Schemes Ombud Services Act 9 of 2011 (CSOSA) deals with fidelity cover requirements. But what happens if an insurer decides to cancel your scheme’s policy? Can they do this, and if so, why?
