insurance

Last year, strata president Rob Parker and his fellow owners were facing huge increases. This year, rates are down somewhat and owners are breathing a little easier. (Langley Advance Times files)

Strata insurance costs retreat after devastating spike in 2020

Many condos and townhouse complexes are getting a break after record hikes

 

The head offices of Caisse Desjardins are seen, Wednesday, February 24, 2021 in Montreal.THE CANADIAN PRESS/Ryan Remiorz

Desjardins drops disease-related liability, property damage coverage for some claims

Company said it will not cover them in the event they are sued for spreading a communicable disease

 

Doug Downey is sworn into his new role as Ontario’s Attorney General at Queen’s Park in Toronto on Thursday, June 20, 2019. A new bill in Ontario could make it harder for consumers to sue a business that was involved in the transmission of COVID-19, lawyers say. THE CANADIAN PRESS/ Tijana Martin

Law to shield businesses that spread COVID-19 could benefit insurers, limit consumers

The new law comes amid concerns of the ability of businesses to keep people safe

 

Just-announced changes to strata insurance regulations will mean more transparency, but the new rules won’t prevent more big insurance price hikes in the future, said Rob Parker, president of the strata council in the 95-unit Prestwick townhouse complex in Langley’s Willoughby Heights. (Langley Advance Times file)
Just-announced changes to strata insurance regulations will mean more transparency, but the new rules won’t prevent more big insurance price hikes in the future, said Rob Parker, president of the strata council in the 95-unit Prestwick townhouse complex in Langley’s Willoughby Heights. (Langley Advance Times file)