30 August, 2017 11:30
The Chamber of damage insurance (ChAD) filed Tuesday, August 29, its response to the consultation on the rules governing the insurance of condominiums in Québec city, launched by the ministry of Finance on 14 July last. In the document, it supports most of the proposals submitted by the ministry in its consultative document, to the extent that they allow a clarification of the role and obligations of the various parties.
According to Maya Raic, president and ceo of the ChAD, » the establishment of a list of risks standard, which would include water damage, and the use of the term reconstruction costs instead of replacement value, for example, would clarify the obligations of the condominium association’s insurance requirements, as defined by the civil Code of Quebec «.
Learn from the Ontario
In addition, ChAD also supports the proposals to make mandatory the periodic evaluation of the building and the liability insurance of the directors of the syndicate of co-ownership that the co-owners.
The regulator recommends, however, that some profound changes are made for clarity and consistency, based on the changes made by Ontario to its own rules relating to the ownership, for example in respect of the franchise reasonable.
Claims settlement process
In his memory, the ChAD claims to be hoped that the legislative changes envisaged are also looking into the claims settlement process in co-ownership in order to standardize the rules of treatment of claim with all stakeholders.
«It would be desirable to clarify who pays what and who manages what in the context of the claims, because the blur of some of the situations can lead to tensions between co-owners or cause damage to the owners, if the unions do not fulfil their obligations in full during a disaster «, explains Maya Raic).