Canadian Underwriter

Keyword
Condo

News Insurance

Fire sweeps through unfinished condos in Kelowna, B.C., forcing nearby evacuations

April 8, 2021 The Canadian Press

KELOWNA, B.C. – A condominium development under construction in Kelowna, B.C., has been severely damaged in a fierce early morning blaze. Flames broke out in a new phase of the Parklane townhouse complex on Kelowna’s north side on Tuesday. Fire

News Insurance

Condo corporation insurance? Unit insurance? Too many condo owners don’t know the difference

February 24, 2021 by David Gambrill

Brokers in Quebec have ample opportunity to educate their clients about how condo insurance works, according to the results of a recent survey commissioned by Insurance Bureau of Canada. One key source of confusion may sound familiar to brokers elsewhere

News ClaimsClaims CanadaCommercial LinesInsuranceRestorationRisk

One knock-off effect of rising condo deductibles

February 16, 2021 by Greg Meckbach

A large increase in deductibles on condo corporations’ insurance is starting to put pressure on individual condo owners’ premiums, a new report from LowestRates.ca shows. “When a deductible goes up – say from $20,000 a year to $100,000, or $200,000

News Insurance

Court sides with condo insurers that used the wrong policy to deny a $4.4-million water damage claim

January 20, 2021 by David Gambrill

Six subscription policy insurers that denied coverage to a condo corporation in a $4.4-million water damage claim — a denial based on reference to the wrong policy — have had the matter tossed out of court. The Court of Queen’s

News ClaimsInsurance

Hard market is trickling down to condo unit owners

November 13, 2020 by Greg Meckbach

The hard market in commercial property coverage for condo corporations is having an impact on individual condo and strata unit owners, new data from LowestRates.ca shows. Personal property rates for condo unit owners increased 16% year-over-year in both Alberta and

News Insurance

B.C. amends law in effort to address high condo and townhouse insurance premiums

September 16, 2020 The Canadian Press

VICTORIA – The B.C. government has announced regulatory changes aimed at bringing more transparency to condo insurance premiums that have risen by as much as 40 per cent. The Finance Ministry says effective Nov. 1, insurers or insurance agents will

Feature Brokers

Briefing Note: Alberta

July 3, 2020 Canadian Underwriter Staff

Before COVID-19 hit Canada in March, George Hodgson, CEO of the Insurance Brokers Association of Alberta, says “a good chunk of habitational personal property was probably doing okay.” At least, outside of the condo market. Brokers are struggling to place

News InsuranceLegislation / Regulation

B.C. proposes ‘first step’ amendments to laws governing condo insurance

June 23, 2020 THE CANADIAN PRESS

VICTORIA – The B.C. government says proposed legislation it has introduced takes first steps to address concerns about sky-high costs and availability of insurance for condominiums and other shared properties. Housing Minister Selina Robinson says the legislation proposes to amend

News Commercial LinesEarnings / RatingsInsurance

Aviva CEO’s take on what to expect in Canada’s condo lines

March 6, 2020 by David Gambrill

Look for rate increases in Canada’s commercial residential realty segment to continue apace in 2020, but perhaps taper off in 2021 and beyond, Aviva Canada’s president and CEO predicted Thursday. And as rates harden in condo lines, expect Aviva Canada

News InsuranceRisk

How to reduce a condo corporation’s insurance premiums

January 15, 2020 by David Gambrill

With condo insurance premiums on the rise – in some jurisdictions, premiums have reportedly increased by 780% — and coverage scarce, legal counsel and Canadian Underwriter readers have a few ideas for the Insurance Bureau of Canada’s forthcoming risk manager

News AdjustersClaimsInsuranceLegal

Condo flooding liability 101

April 18, 2019 by David Gambrill

You are the owner of a condo unit. The toilet in the condo unit above you overflows, causing water damage to your ceiling and floor. No, your upstairs neighbour does not have to reimburse you for your $1,000 insurance policy

News Legal

Landlord sued over $16,000 water leak wins appeal

November 28, 2018 by Greg Meckbach

A major water leak from a Surrey, British Columbia strata unit has spawned debate among judges over whether landlords are liable in such cases. Crystal Thomas was renting a condo unit in Surrey in the summer of 2015. A large