Cyber Insurance Online :: News
SHARE

Share this news item!

Netstrata Clients Uncover Excessive Insurance Brokerage Fees

Past Invoices Reveal Charges Significantly Higher Than Industry Norms

Netstrata Clients Uncover Excessive Insurance Brokerage Fees?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Recent developments have brought to light concerns regarding the insurance practices of Netstrata, a prominent strata management firm in Australia.
Clients have reported the sudden appearance of past insurance invoices in their online portals, revealing brokerage fees significantly higher than industry norms.

In some instances, these fees were up to six times the typical industry rate, with charges reaching as high as 148% of the base insurance premium. This has led to feelings of betrayal among property owners who trusted Netstrata to manage their strata schemes ethically and transparently.

Industry experts have expressed alarm over these findings, noting that standard brokerage fees typically range between 20% to 25% of the base premium. The significantly higher fees charged by Netstrata's insurance arm, Strata Insurance Services (SIS), have raised questions about the firm's disclosure practices and the potential financial impact on clients.

Former employees have alleged that Netstrata established SIS as a means to circumvent disclosure requirements, allowing the firm to charge higher fees without informing clients. This has prompted calls for stricter regulations and greater transparency within the strata management industry to protect property owners from similar practices.

Property owners are encouraged to review their insurance invoices carefully, seek full disclosure from their strata managers, and consider obtaining independent advice to ensure they are not overpaying for insurance coverage. Transparency and ethical practices are essential to maintaining trust and ensuring fair treatment within the strata management sector.

Published:Saturday, 24th Jan 2026
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Steadfast Group Under Scrutiny for Alleged Misleading Practices
Steadfast Group Under Scrutiny for Alleged Misleading Practices
24 Jan 2026: Paige Estritori
Steadfast Group, Australia's largest general insurance broker network, has recently come under scrutiny following allegations of misleading clients through undisclosed financial arrangements. These claims have prompted the company to suspend trading on the Australian Stock Exchange, leading to a significant decline in its share price. - read more
Netstrata Clients Uncover Excessive Insurance Brokerage Fees
Netstrata Clients Uncover Excessive Insurance Brokerage Fees
24 Jan 2026: Paige Estritori
Recent developments have brought to light concerns regarding the insurance practices of Netstrata, a prominent strata management firm in Australia. Clients have reported the sudden appearance of past insurance invoices in their online portals, revealing brokerage fees significantly higher than industry norms. - read more
ICA Calls for Reforms to Victoria's Strata Laws Amid Rising Insurance Costs
ICA Calls for Reforms to Victoria's Strata Laws Amid Rising Insurance Costs
24 Jan 2026: Paige Estritori
The Insurance Council of Australia (ICA) has called for significant reforms to Victoria's strata legislation, highlighting that poor governance and deferred maintenance are leading to increased insurance premiums for the one in five Victorians residing in strata-titled properties. In a submission to the Expert Panel Review of the Owners Corporations Act 2006, the ICA emphasized that building defects are costing Australians an estimated $1. - read more
Allianz Partners Highlights Risks of Travelling Uninsured
Allianz Partners Highlights Risks of Travelling Uninsured
23 Jan 2026: Paige Estritori
Recent research conducted by the Insurance Council of Australia (ICA) and the Department of Foreign Affairs and Trade (DFAT) has unveiled a concerning trend: approximately 14% of Australian travellers embark on international journeys without any form of travel insurance. This statistic has prompted Allianz Partners to urge Australians to reconsider the importance of securing adequate coverage before travelling abroad. - read more
Surge in Medical Claims Among Australian Travellers Highlights Importance of Comprehensive Insurance
Surge in Medical Claims Among Australian Travellers Highlights Importance of Comprehensive Insurance
23 Jan 2026: Paige Estritori
In 2024, medical incidents emerged as the leading cause of travel insurance claims among Australian travellers, accounting for more than 40% of all claims handled by nib Travel. This trend underscores the critical importance of securing comprehensive travel insurance to mitigate the financial risks associated with medical emergencies abroad. - read more


Cyber Insurance Articles

The Essential Guide to Cyber Insurance for Australian Small Businesses
The Essential Guide to Cyber Insurance for Australian Small Businesses
In the digital age, Australian small businesses find themselves navigating a world where online presence isn't just an advantage, it’s a necessity. With this increased online activity comes heightened vulnerability to cyber threats, making the protection of digital assets an urgent priority. - read more
How to Safeguard Your Financial Data from Cyber Threats
How to Safeguard Your Financial Data from Cyber Threats
Cyber risk management involves identifying, assessing, and mitigating risks related to digital and online threats. These threats can include unauthorized access to sensitive information, data breaches, and other malicious activities targeting an organization’s digital infrastructure. - read more
Understanding the Importance of Cyber Insurance in the Digital Age
Understanding the Importance of Cyber Insurance in the Digital Age
As we dive deeper into the digital era, the topic of cyber security becomes increasingly critical. With businesses and individuals relying heavily on digital technologies, the threat of cyber attacks looms larger than ever. This introductory section aims to unpack the concept of cyber insurance as a tool to mitigate these risks. - read more
The Essential Guide to Cyber Insurance for Australian Businesses
The Essential Guide to Cyber Insurance for Australian Businesses
Cyber insurance is a type of insurance designed to protect businesses from internet-based risks and, more generally, from risks relating to information technology infrastructure and activities. It covers losses related to data breaches, cyber extortion, and other kinds of cyber attacks. - read more
Before You Apply for Cyber Insurance: What You’ll Be Asked (and What It Really Means)
Before You Apply for Cyber Insurance: What You’ll Be Asked (and What It Really Means)
Cyber insurance is one of the most valuable business covers available today, but it is also one of the most confusing to apply for. Many business owners expect it to work like other insurance types, where you provide basic details such as turnover, industry, and location, then receive a quote. Cyber insurance is different. It behaves less like a simple application and more like a risk interview. - read more


Your free Cyber insurance quote comparison starts here!
First Name:
Postcode:

All quotes are provided free and without obligation by a Specialist from our National Broker referral panel. See our Privacy Statement for more details.


Knowledgebase
Exclusion:
Specific conditions or circumstances for which the insurance policy does not provide coverage.