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Amount paid out by the insurer to the insured or to a third party following a loss covered by the insurance policy.
21/10/2024
A co-ownership is exposed to various types of risks, such as fires, water damages, theft and acts vandalism; among these risks, one that is often overlooked is fraud. Those capable of committing fraudulent acts can sometimes be unsuspected or seemingly above suspicion; this includes director, co-owner, condo manager, service providers, and…...
25/05/2024
After being victims of a loss, the members of the board of directors and the affected co-owners are often caught off guard. How will things unfold? There is no need to worry or panic, because in principle, once the notice of loss completed, various stakeholders get involved: the insurer of…...
25/05/2024
Most insurance policies include deductibles, with amounts varying based on the insured risk. For example, the deductible for water damage is generally higher than that for fires. The purpose of the deductible is to make the insured responsible by having them cover part of the repair costs for damages caused by…...
06/05/2023
We suffered water damage caused by a broken pipe that is located in the common portions. Several private portions were damaged. Our insurer is willing to compensate the syndicate as long as it signs a release beforehand. Questions: Is the board required to sign such a release? What are the…...
12/05/2021
Le mercredi 12 mai 2021, la Webradio de Condolegal.com a exploré les enjeux d'assurance que rencontrent les syndicats de copropriétaires au Québec, notamment ceux confrontés à la perte de leur assureur traditionnel. Cette Webradio a exploré les défis associés au passage obligé vers le marché de l'assurance secondaire, reconnu pour…...