Strata Update 2020-Personal Lines

Due to the dramatic rise in water-damage claims, strata corporations imposing loss-related charges on unit owners, and the current hard market, condominium policies have been getting expensive and difficult to place. Meanwhile, the provincial government has been changing regulations in an attempt to eliminate some strata-insurance problems. In this live-webinar recording (recorded November 2020), you’ll review pertinent sections of B.C.’s Strata Property Act and learn about recent legislative changes that impact strata corporations, strata-property managers, insurers, and insurance brokers. You’ll get a good understanding of the Insurance Council of B.C.’s interpretations of recent regulation changes and how brokers must react. And you’ll receive important information and tips on how to navigate the current market for appropriate coverage and deductible options, how to handle notifications for non-renewal and material change, and best practices for interacting with strata-property managers. This course is recommended for all personal-lines brokers who handle condo-unit owners’ policies, and all brokers who place coverage for duplexes, triplexes and bare-land stratas.

Credit: 2 Technical Credits

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