Definition : Regulation to establish various measures in matters of divided co-ownership insurance

A regulation adopted under the Civil Code of Québec that specifies insurance obligations in divided co-ownership. It requires each co-owner to maintain a minimum liability insurance of $1,000,000 (for buildings with fewer than 13 units) or $2,000,000 (for 13 units or more). It sets the rules for contributions to the self-insurance fund, capped at $100,000, intended to cover the co-ownership’s insurance deductibles. It reserves to chartered appraisers the determination of the building’s reconstruction value and lists the mandatory risks that the syndicate’s insurance must cover (fire, theft, water damage, explosion, vandalism, etc.).