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Keyword
Condo Insurance

News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRisk

Are your condo clients covered for ‘special assessment’ costs?

June 2, 2021 by David Gambrill

In an age when a condo corporation’s insurance may not provide enough coverage for an insured loss, brokers can help their clients by advising condo unit owners about the merits of special assessment insurance, one lawyer suggests. “It is important

News Insurance

Insurance regulators expand scope of inquiry into Best Terms Pricing

December 2, 2020 by David Gambrill

Canada’s national association of provincial property and casualty insurance regulators is looking into “Best Terms Pricing” in all commercial lines following recent regulatory actions to ban the practice in the strata insurance line in B.C. and Alberta. The Canadian Council

News BrokersInsuranceLegalLegislation / Regulation

For insurance purposes, if it’s not managed as a strata, it’s still a strata: Tribunal

November 19, 2020 by David Gambrill

The owner of a strata lot in a duplex that was not managed as a strata — for example, there was no strata board of directors, annual board meetings, etc. – must nevertheless pay for her half of the strata

News Insurance

One essential thing required for condo premium relief

November 10, 2020 by Adam Malik

Clients don’t always know the process when they have to report a condo insurance claim, and a number of property and casualty insurance professionals believe education of condo managers and boards is key to turning around the hard market in

News Insurance

Culture change needed to mitigate condo losses: Aviva exec

November 6, 2020 by Adam Malik

As capacity for condo insurance shrinks and premiums continue to mount, property managers and condo boards will find greater success with underwriters if they can show they are embedding responsibility for risk management and mitigating losses into their corporate culture,

News Insurance

Sedgwick exec’s Top 4 reasons why condo claim severity is through the roof

October 30, 2020 by David Gambrill

As Canadians carry on their love affair with condos, the number of units being built — and the rapid pace of their construction — have indirectly contributed to the severity of condo insurers’ claims costs, says a senior P&C insurance

News Insurance

What brokers are looking at to help condo corporations reduce deductibles

October 29, 2020 by David Gambrill

Brokers working in the condo insurance class of business are looking at creative ways to help their condo corporation clients shoulder the burden of much higher deductibles — including preliminary discussions around the option of “buy-down” deductibles. “As a broker,

News AdjustersBrokersClaimsCommercial LinesInsuranceLegislation / RegulationRisk

This decision on a $5,000 deductible could motivate condo corporations to change their bylaws

October 28, 2020 by David Gambrill

A recent decision by B.C.’s Civil Resolution Tribunal (CRT) may motivate strata (condo) corporations to adjust their bylaws so that they can charge insurance policy deductibles back to their strata unit owners. Based on the outcome of the CRT decision,

News Insurance

First the industry mandated fire detectors. Now should it require water detectors?

October 27, 2020 by Adam Malik

An abundance of technology is available to prevent water damage in condo buildings, but panellists of a recent Canadian Underwriter webinar questioned why it’s not being mandated or put to use as condo claims continue to increase. Existing technology such

News AdjustersBrokersClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesRisk

Industry execs to discuss how to navigate the condo insurance market

October 23, 2020 by David Gambrill

Selling and underwriting condo insurance these days is a tough gig, but the property and casualty insurance industry is no stranger to tough market cycles. Mainstream media are filled with stories about condo corporations seeing their premiums and deductibles increase,

News InsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Vericlaim Canada acquires RGM Claims Services

September 1, 2016 by Canadian Underwriter

Vericlaim Canada – a subsidiary of Sedgwick Claims Management Services, Inc. – announced on Thursday that it has acquired the assets of RGM Claims Services, Inc. Mississauga, Ont.-based Vericlaim Canada is a national provider of loss adjusting and claims management

News InsuranceMergers and AqcuisitionsTechnology

Surex Direct launches simplified quote process for tenant’s, condo insurance

August 23, 2016 by Canadian Underwriter

Surex Direct has announced the availability of a new tenant’s and condo insurance quote process designed to make things faster and more simple for users. The customer-facing quote process allows users to know “exactly what their best policy price is