Rising Insurance Costs: an Ontario Legislative Sub-Committee

CCI (Canadian Condominium Institute) chapters in Ontario, including the London and Area Chapter, have formed an Insurance Working Group as part of the Ontario Legislative Sub-Committee. The group aims to develop educational programming and a smart tool website application ("app") to help condominium corporations manage insurance risks. The app is intended to increase the number of insurers bidding on policies, offering more options and potentially reducing premiums and deductibles. Moreover, it will provide boards with education and tools to identify coverage gaps and potential claims risks, ultimately reducing the number and scope of claims and benefiting unit owners.