UNIONS OF CONDOMINIUMS IN THE SPOTLIGHT OF INSURERS

«Insurers tighten rules for condominiums », headlined an article in Condoliaison published in autumn 2009. A year later, this statement made sense. In insurance, the noose tightens against condominium corporations. And rightly so, since “poor maintenance, insufficient investment, as well as the lack of money invested in the pension fund, are key elements that directly affect the claims for condominiums,” said Bureau d’assurance du Canada (BAC). At this rate, and with the aging real estate, will problems get worse?