Contractor Liability During Renovations

Insurance coverage is crucial during any renovation or capital project, to protect the condominium corporation owners against potential mistakes or injuries caused by contractors. Contractors must maintain proper coverage for their work and actions, and condominium managers are responsible for keeping track of this coverage, including expiration dates and liability limits. It is a major undertaking for managers to maintain this information for dozens of contractors working on a building throughout the year. Condominium corporations may prefer to work with an engineering firm that fully manages all aspects of their projects or rely on back-office services provided by their management company to monitor insurance coverage. Insurance is an essential aspect of project management to ensure that major projects remain within budget.