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Managing Rising Insurance Premiums: What Condo Board Members and Managers Need to Know (ON)

/ Owner - February 4, 2025

Condominium corporations are facing increasing challenges as insurance premiums continue to rise. In response, many corporations are exploring ways to mitigate these costs, including seeking recovery from unit owners whose actions may have contributed to premium hikes. Some condominium declarations contain provisions that pass on the increase to the corporation’s insurance premiums in certain circumstances, allowing corporations to pass on increased costs to an owner whose act or omission led to the higher premium.   Read the article…………………………….

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