1. Syndicates of Co-ownership: list of documents 1. Syndicates of Co-ownership: list of documents http://chad.ca/en/members/professional-practice/toolbox/the-advisory-role/445/1-syndicates-of-co-ownership-list-of-documents

​When evaluating a new risk for a syndicate of co-ownership (often referred to as a “condominium association”) for the first time or when renewing it, it is important to fully understand the syndicate in order to propose coverage that best meets its specific needs.

​The size and nature of the co-ownership (often referred to as a “condominium building”), the complexity of its operations, assets requiring insurance, and specific risks may vary enormously from one condominium building to another. The representative must therefore ask questions regarding not only the value of the property to be insured, but also regarding the risks associated with the syndicate itself (the quality of its management, maintenance, preventive measures, whether its contingency fund is adequate, etc.).

​A “small” condominium building (a converted multiplex with only a few units and little to no common space [aside from the building envelope]) and a high-rise that requires professional management (and includes parking, a pool and employees) cannot be insured the same way. As with commercial-lines insurance: a convenience store, a farm or a mining company each require different expertise. Representatives must therefore be mindful of their own specific skills and knowledge in order to ensure that they provide clients with the sound advice all clients have a right to expect from a professional.

​The following list contains the documents representatives most frequently see when dealing with condominium building. It provides useful (and indeed essential) tips that damage insurance representatives should become familiar with, in order to better understand their clients’ needs and act as truly conscientious advisors.

For more information, see the following documents:


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