Condo association forms task force on insurance

An association representing the condominium industry is set to look into the impact of insurance rates and policy changes to its members. The Canadian Condominium Institute (CCI) says it has established a task force to look at “unprecedented” changes to insurance policies that have taken a toll on condominium corporations and their clients. “We have growing concern the impacts of increasing rates, higher deductibles and reducing coverage is having on the millions of Canadians living in condominiums from Victoria to St. John’s.The task force is studying the effects of changing insurance conditions and ways the situation could be improved by working with insurers. It is slated to release a report in late 2003.