Strata Round-up
By Trudy Lancelyn, ABC
As communications lead at the Fraser Valley Real Estate Board for 6 years, and then at the Insurance Brokers Association of B.C. for 17 years, Trudy Lancelyn has been writing on strata topics for real estate and insurance licensees since 1993.
1 Technical Credit for Level 1, 2, and 3 General Insurance Agents and Salespersons.
To qualify for CE credit…
– Read the entire article carefully, including all its sections and content labelled ‘Mandatory’.
– Select the ‘Mark Complete’ button at the end of each section to track your progress.
– Successfully challenge the quiz to demonstrate your learning.
– Select the ‘Completion Certificate’ link to save and download your personalized completion certificate.
Please Note: CE credits from this HyperArticleTM can only be used once towards your CE requirements every three licence periods. For further information on CE regulations, please refer to the Insurance Council of BC’s website.
Overview
About 25% of British Columbians (about 1.5 million people) opt for the lower-maintenance lifestyle that a strata apartment or townhouse promises. But being a member of a strata corporation adds a separate level of complexity that some condo buyers don’t take the time to learn about until circumstances provide lessons the hard way.
Insurance brokers play a leading role in educating their condo customers about strata-related insurance requirements. Increased risk from natural disasters and weather events, rising premiums and deductibles, confusion around responsibility for repairs and claims, and housing-market challenges all contribute to the list of questions your strata clients have when buying or renewing an insurance policy.
In this HyperArticle™, you’ll address some common strata issues and review some legislative and regulatory updates that have occurred over the past few years.
When you’re ready, please go to the first content section…
Optional Resources
Information for strata property owners:
- Government of B.C. Strata Housing
- IBABC Strata Insurance Guide
- Strata Insurance Policies: What You Need to Know
- Handling Emergencies in Strata Corporations
- FireSmart BC
Strata Owner Associations: