The Corporation’s Insurer is responsible for making certain that the requirements of Section 47 of the Condominium Property Act, RSA 2020 of Alberta, and Section 61 of the Regulation to the Condominium Property Act and the Corporation’s registered bylaws are being met (N.B. The Bylaws cannot conflict with the Act).
For many Condominium Corporations, the Bylaws outline the insurance coverage requirements and public liability for both owners and the Condominium Corporation. It is important to note that an owner must ensure they obtain "CONDO OWNER INSURANCE" for their personal property (including appliances) and may wish to obtain coverage for betterments & improvements, as well as include liability insurance of their own.
NOTE: If damage for a condominium corporation’s insurance claim originates in or from an owner’s unit (or owner’s exclusive possession area), then the condominium corporation can claim back an insurance deductible from the owner, up to a...