Ontario Government Consultation on Condominium Insurance

As we wrote earlier this year, many in the condominium industry have long been aware that condominium insurance premiums and deductible limits are rising at an alarming rate. For some time, industry stakeholders including our condominium group have made submissions to the Ontario Government for it to step in and address the looming condominium insurance crisis.

It now appears that those calls have been heard. The Government of Ontario has just announced that it is initiating public consultation to develop a better understanding of the issues that the condominium community is facing in Ontario's insurance market, including insurance affordability and availability for condominium corporations, and the definition of 'standard unit' under the Condominium Act, 1998.

We encourage all readers to visit Ontario's Regulatory Registry for more information about the consultation and to complete the Feedback Form available. 

The questions on the Feedback Form are related to: (1) condominium insurance market issues, (2) condominium corporation governance, and (3) quality of condominium property construction. 

If you wish to participate, please note that feedback is due by Friday, January 7, 2022.