Legislative Newsflash: CCI-T Submission to the Condominium Insurance Consultation - Insurance Act, Condominium Act, 1998, Building Code Act, 1992

CCI-T (Canadian Condominium Institute - Toronto Chapter) has submitted comprehensive comments to the Ministry of Government and Consumer Service on behalf of all CCI chapters regarding the issue of condominium insurance. Condominiums have been facing substantial increases in insurance premiums and deductibles, and some are struggling to secure insurance at reasonable rates. The recent volatility in the insurance market is not limited to condominiums and is affected by factors such as climate change, water damage claims, and a lack of insurers willing to insure condominiums. CCI is hopeful that the government will take steps to address the insurance crisis in condominiums after considering the comments submitted as part of the consultation process.