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CAFCOR Forum
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#19029
$ 250 K corporate INSURANCE DEDUCTIBLES hit some STRATA RENEWALS & massive premium jumps ! 2020/01/06 11:51  
Jan 3 /20 Global News “Langley condo owners reeling after strata insurance deductible jumps from $5K to $250K” by Simon Little
https://globalnews.ca/news/6363104/langley-condo-owners-strata-insurance-deductible/

Nov 30/19 Global News "B.C. condo owners brace for sticker shock as insurance rates surge ’50 to 300%’ " by Simon Little & Jill Bennett
https://globalnews.ca/news/6237709/bc-strata-insurance-surge/
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#19044
B.C. gov't hears PANIC calls to limit payouts & down-define standard units 2020/02/09 23:48  
Feb 9/20 Global “BC. insurance brokers call for legislative reforms to tackle skyrocketing strata rates”
https://globalnews.ca/news/6524791/bc-strata-insurance-brokers-legislation/

Feb 6/20 CTV “Insurance issues could cause B.C. condo market collapse, homeowners association warns” https://bc.ctvnews.ca/insurance-issues-could-cause-b-c-condo-market-collapse-homeowners-association- warns-1.4800633
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#19093
MASSIVE B.C. increases trigger response. BUT is there also a massive disconnect ? 2020/06/24 16:55  
In the aftermath of a B.C. financial body estimating FORTY PER CENT AVERAGE STRATA PREMIUM INCREASES, B.C has announced a "first stage" sorta response.

But the commission's mere forty per cent industry wide estimate itself came as a shocking disconnect to some strata communities.

Amongt some actual shockers reported by B.C.'s Aldergrove Star :

In December 2019 Yorkson Creek owner's deductible would climb from $ 5,000 to $ 250,000 for water damage and sewer backup losses. The strata’s insurance premium was going to rise from $ 97,000 to $ 371,00

Abbotsford's Mahogany Tower strata saw their premiums rise by 780 per cent from $66,000 to $588,000.

NDP government claims "kickbacks" / diligencing payments / whatevers to PMCs may make up 20 % of premiums ? ! True or not Tony Gioventu reports that some PMCs disclose receiving commissions but not the amount ( June 24/20 CHEK “Strata insurance ‘kickbacks’ could be contributing to sky-rocketing rates” https://cheknews.ca/strata-insurance-kickbacks-rates-678294/ )


Jan 24/20 Aldergrove Star “Strata insurance changes announced by province not ‘much of anything’ Langley owner says” by Dan Ferguson https://www.aldergrovestar.com/news/video-strata-insurance-changes-announced-by-province-not-much- of-anything-langley-owner-says/

June 23/20 “B.C. changing rules as strata property insurance costs rise” https://www.langleyadvancetimes.com/business/b-c-changing-rules-as-strata-property-insurance-costs- rise/
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