June 28th, 2020 - The law concerning co-ownership insurance has undergone major changes since June 2018. Section 1070 of the Civil Code of Quebec now contains a third paragraph, which provides that the syndicate keeps a sufficiently precise description of the private parts available to the co-owners, for insurance purposes, so that the improvements made by the co-owners are identifiable. The same description may apply to several parties when they have the same characteristics.
]]>
April 15, 2020 — The Government of Quebec published in the Official Gazette of Quebec, on April 15 2020, a regulation on divided co-ownership insurance, which clarifies the terms and dates of entry into force of some of the provisions introduced by Bill 141, in June 2018. This bill provided that six of the elements contained in it would be passed by government regulation. For the time being, only four are touched by this regulation.
]]>
January 2, 2020 - Just 10 years ago, Quebec co-ownerships could count on 11 insurers. Since then, there are only 6. Of these, only two or three cover buildings worth between 20 and 50 million dollars.
August 6, 2019 - Several clarifications are requested with respect to the draft regulation on co-ownership insurance. Tabled on July 17, its content raises questions expressed by the Damage Insurance Chamber (Chambre de l'assurance de dommages (ChAD)), the Insurance Bureau of Canada (IBC) and the Québec Co-owners and Manager Association (Regroupement des gestionnaires et copropriétaires du Québec (RGCQ)).
July 20, 2019 - Quebec co-owners are concerned since the announcement of a draft regulation that will require syndicates of co-owners to create a self-insurance fund. However, it should be noted that contrary to what has been reported by some news sources, once adopted, this regulation will only come into force 24 months later.
]]>
July 17, 2019 - The new law on co-ownership insurance took another step forward on July 17th with the publication of a draft regulation that will be open for comment for 45 days. The Minister of Finance may subsequently publish it, with or without modifications, considering the comments received.
]]>
June 26, 2019 – Emeritus Lawyer and secretary general of the RGCQ, Yves Joli-Coeur, was in attendance (for a second time in two weeks) at the 98.5 FM radio station, where host Isabelle Maréchal was waiting for him.
Last week, this lawyer was asked to comment on a regulatory modernization project submitted by the Ministère du Tourisme du Québec, which wants to better regulate short-term Airbnb-type leasing. This week, he spoke to the audience listening to a an issue related to the co-owner’s liability insurance.
January 22, 2019 - Confusion reigns in Quebec co-ownership insurance. This state of affairs has been summarized by journalist Stéphanie Grammond, of the daily La Presse, in a recent article on with Bill 141’s adoption. Its new provisions have created" chaos in condo insurance" because its interpretation does not always reflect reality.
The current problem is daunting, as insurers, adjusters and also property and casualty insurance brokers have diverging views regarding 141’s specific content, so that syndicates of co-owners' and co-owners themselves end up being victimised.
September 9, 2018 - The Ministère des finances is embarking on an important milestone in the implementation of Bill 141, which introduces several legislative amendments to co-ownership insurance. In fact, to be really in force, it will require the adoption of several regulations. This will allow better defining its impact, by the means of a broad consultation that has recently been launched.
]]>
October 31, 2017 - After conducting a co-ownership insurance consultation, from July 14 to August 29, the department of Finance is currently working on Bill 150, which provides significant changes in this field.
Compulsory co-owners insurance
As a first step, the Law will require that "each co-owners shall take out third person liability insurance “. The minimum compulsory amount will be determined by government regulation. In addition, the syndicates will have to make available to the co-owners a "sufficiently precise description of the private portions", so that the improvements that have been made therein are easily identifiable.
]]>
September 11, 2017 - the RGCQ urges Québec to take action to end the current "confusion" in co-ownership insurance. "For two years Minister of Justice (Stephanie Vallée) tells us that she will legislate. We hope that she will finally make a move, "said Yves Joli-Coeur, Lawyer Emeritus and general secretary of the RGCQ.
]]>August 30, 2017 – The condo insurance consultation, held by the Ministry of Finance from July 14 to August 29, should eventually lead to major reforms in this field.
Bodies such as the Chambre de l’assurance de dommages (ChAD) (Damage Insurance Chamber), which oversee insurance brokers and agents’ work, as well as that of claims adjusters, responded to this consultation by producing a brief, filed with the Ministry of Finance. The latter will analyze the many proposals received, and take decisions that all interested parties hope will be in the best interest of all concerned.
]]>
July 14, 2017 - A consultation on the subject of divided co-ownership insurance was officially launched by the Ministère des finances (Department of finances). This initiative is within the scope of the work of the Ministère de la justice (Justice Department), already in progress which will ultimately lead to the revision of Quebec co-ownership rules (legislative reform).
The said consultation "arises from the finding that the current rules are insufficient", to ensure the maintenance and protection of a portion of the built-up real estate, "and they are also a source of stress between co-owners when losses occur. The withdrawal of a major insurer (Aviva) from the Québec co-ownership insurance market, is symptomatic of the problems in this sector, reports a press release put on line by the Ministère des Finance.
]]>
October 20, 2016 – Condo insurance in Québec is not an easy subject. Co‑owners, directors and managers will be the first to purchase the book Condo insurance Everything You Should Know at the Montréal Fall HomeExpo (October 20 to 23, 2016) at the Olympic Stadium, stand 250.
]]>
December 1st, 2015 – Identity theft is a worrisome reality in 2015. It can affect any co-owner and cause major losses. Title insurance is a product that could save the day.
]]>