Strata Insurance A Big Story in 2020

There is much to be concerned about when it comes to recent news regarding strata insurance in the BC market. Some strata corporations are not being offered insurance at all, some have seen their premiums increase by several hundred percent, some have seen huge increases in their deductibles and some are relatively unchanged.

Until recently there has not been much in the way of official press releases from the insurance industry, and just this week the Insurance Brokers Association of BC provided a comprehensive document outlining why we have a problem and how it is affecting strata corporations. I encourage current strata owners to have a read of the article, and share this with anyone you know that is either planning on buying a condo or selling their condo.

INSURANCE BROKERS ASSOCIATION OF BC