Tuesday 3 March 2020

BC Condos Struggle to Renew Insurance

According to the Insurance Brokers Association of BC (IBABC), strata corporations are facing drastic changes in insurance deductibles and premiums.

For instance, IBABC said some condo building strata corporations are facing renewal premium increases from between 50% and 400% and deductible increases from $25,000 per claim to $250,000 and up to $750,000.

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