An owners corporation for a strata scheme comprising the whole of a building must insure, and keep insured, the building under a damage policy covering fire, lightning, explosion and other specified occurrence damage (maximum penalty 5 penalty units); a corresponding duty applies where the scheme is for part of a building only (s 160). The damage policy must be with an approved insurer, in the owners corporation's name, and insure the building for at least the amount determined in accordance with the regulations, among other required terms (s 161).
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.