Regarding Heather C’s comment:
In the case where a condominium’s bylaw includes a clause that owners are responsible for costs up to the limit of the corporation’s deductible, the owner’s policy will pay the costs upon the owner receiving a demand letter from the board. The corporation or the corporation’s insurance first pays for any costs then sends the demand to the owner once all work is complete and the invoices are paid. The unit owner’s insurance policy typically has a “contingency” endorsement that will cover such an event. We manage several condominium corporations whose bylaw contains such a clause and we, on behalf of the condominium corporation, have always been successful at recovering the costs. The owners’ insurance companies have always paid upon reviewing the bylaws.
Regarding Victoria A’s comment:
Your response was very well researched and detailed and that is what I had concluded as well before I raised the issue in this forum. I guess I was hoping that someone else’s experience had had a different outcome. I agree that it is unfortunate this issue is not addressed in the Act or the Regulation.
Mark R on July 19 2018 at 12:03 PM