Insurance Costs continue to Climb in 2021

This blog discusses the rising cost of insurance for condominium corporations in Canada. The author notes that insurance premiums have increased significantly, and some corporations have even had trouble obtaining coverage due to increased risk in the market. The article discusses some of the factors contributing to the rise in costs, including increased claims, extreme weather events, and changes in the insurance market. The author also provides some tips for condominium corporations to help mitigate their insurance costs, including working with a broker, maintaining their buildings, and implementing risk management strategies.