If your co-ownership suffers a "substantial loss" as a result of an incident, you must use the services of an insurance trustee in accordance with article 1075 of the Civil Code of Québec. This section stipulates that "the indemnity owing to the syndicate following a substantial loss is, notwithstanding article 2494, paid to the trustee appointed in the Constituting Act of the co-ownership or, when none has been appointed, designated by the syndicate".
The insurance trustee is a key person. His role is to manage the indemnities paid by the insurer. It ensures that the money available is in fact used to "repair or rebuild the immovable". All in all, the interest of the co-owners and their hypothecary creditors is protected. Indeed, it is in their best interest that the immovable is repaired or even rebuilt.
The insurance of the syndicate does not cover every possible risk as it contains exclusions and deductibles. To mitigate the risks, it is possible to subscribe complementary riders to the insurance policy. Their purpose is to extend – for higher insurance premiums – the insurance coverage and the limit of the indemnities, such as: