The condo insurance crunch: how will it impact sales?
Mornings with Simi
English - February 13, 2020 21:08 - 13 minutes - ★★★★★ - 1 ratingBusiness News News Society & Culture Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Strata insurance rates have skyrocketed between 50 and 780 per cent, leaving many condo owners unable to afford their strata payments.
Chuck Byrne is Executive Director of the Insurance Brokers Association of B.C., and he spoke with Jody Vance about what caused the huge increases in strata insurance premiums.
Now, the Insurance Brokers Association of BC is proposing changes to provincial legislation to try and ease the pain. In a statement Friday, the IBABC proposes two reforms to the province’s Strata Property Act, including a $50,000 cap on upper loss assessments.
Dan Fumano is the city columnist for the Vancouver Sun, and he joins us now to discuss how the huge hikes in insurance premiums could affect future sales…
Guest: Dan Fumano
Vancouver Sun city columnist
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Strata insurance rates have skyrocketed between 50 and 780 per cent, leaving many condo owners unable to afford their strata payments.
Chuck Byrne is Executive Director of the Insurance Brokers Association of B.C., and he spoke with Jody Vance about what caused the huge increases in strata insurance premiums.
Now, the Insurance Brokers Association of BC is proposing changes to provincial legislation to try and ease the pain. In a statement Friday, the IBABC proposes two reforms to the province’s Strata Property Act, including a $50,000 cap on upper loss assessments.
Dan Fumano is the city columnist for the Vancouver Sun, and he joins us now to discuss how the huge hikes in insurance premiums could affect future sales…
Guest: Dan Fumano
Vancouver Sun city columnist
Learn more about your ad choices. Visit megaphone.fm/adchoices