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3 min read

SGI Adds Restrictions to Condo Policies

By Gina Schopfer on Mar 5, 2021 1:12:19 PM

SGI has introduced new coverage requirements for condo policy holders. Effective March 1, 2021, SGI requires that a client's condominium corporation maintains adequate condo insurance for the building itself. This is in effect for all new policies, and could affect existing policy holders with coverage limitations. With current market conditions, this could also become a reality for other insurance companies.

Topics: SGI Canada Condo Insurance Home Systems Protection Service Line Coverage
2 min read

New Condo Guidelines Could Leave Condo Owners Holding a Bill for $50,000

By Rob Stevenson on Jan 13, 2020 12:40:05 PM

The Canadian Condominium Institute has announced changes to the Condominium Property Regulations that may  leave condo unit owners holding a bill for up to $50,000. The changes that took effect on January 1, 2020 will allow condo corporations to seek recovery of insurance deductibles from an owner for damages that originate from the owner's unit.

Topics: Condo Insurance

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