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Legal & Regulatory Updates

Brandon Murphy,
Client Executive
BFL CANADA

How to Choose the Right

Insurance Coverage

to Protect Your Condo’s Future

There are more than 13,000 condo rights and obligations, resulting in having an educated conversation with
corporations in Ontario, and some disputes among owners or the condo your insurance broker can enhance the
70,000 people serve as members of their corporation. Conflictual situations are corporation’s legal protection.
boards. With disputes ranging from numerous and include the irregular
special assessments to construction defi- use of common portions, inadequate Commercial General Liability
ciencies and even human rights claims, allocation of common expenses, and A Commercial General Liability
lawsuits involving condo corporations disputes relating to general meetings or (CGL) policy is an essential safeguard
are on the rise in Ontario. It’s more board decisions. And as some disagree- for any condo corporation. This
important than ever to ensure that your ments take years to resolve, legal costs coverage protects the corporation, its
Photo: ©iStock.com/ akinbostanci the legal challenges that can emerge General Liability, Directors and Offi- third-party claims involving property
employees (and should include prop-
condominium corporation has a robust are sure to mount.
In this article, we explore three
legal defence insurance policy.
erty managers), and volunteers against
Adequate coverage protects against key types of coverage—Commercial
damage, bodily injury, or personal
injury. Given the high volume of visi-
cers Insurance, and Legal Expense
during daily operations. In co-owner-
ship, the risks of litigation and Insurance—and how they can safeguard
tors daily, contractors, and residents
disputes are generally higher than in your corporation from potential legal
interacting with condo properties, the
other housing types. This is because woes. It is worth mentioning that many
likelihood of an incident is significant.
co-owners often misunderstand their condo insurance policies can differ, so
Without adequate liability coverage,
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