Jerneh Insurance unveils
protection scheme for management corporations
23/05/2006 www.theedgedaily.com
Jerneh Insurance Bhd has unveiled a new protection scheme specially designed
for management corporations and council members of strata-titled commercial
and residential buildings.
In a statement yesterday, it said the product called Management Corporation
Strata Title (MCST) was designed to protect management corporations and
council members from claims arising out of negligence in managing common
area of subdivided buildings due to non-compliance of statutory duties
brought against them by tenants and owners of strata-titled properties.
Its general manager, Michael Heng said many management corporations and
council members of strata-titled commercial and residential buildings were
unaware they could be held liable for accidents, theft, and other negligent
acts.
He said Jerneh’s MCST scheme would protect strata-titled management
corporations from such claims, which are under Section 39 (3) of the
Management Corporation of Strata Titles Act 318.
