Condominium or Strata Coverage & Claims Part 1
This course provides an overview of the differences between residence coverage for an independent homeowner and the coverage for an owner of a unit within a strata. It also outlines coverages for condominium owners and the strata corporation, itself, as an owner. The course further gives participants the details of particular strata insurance coverages for both owners and for the Strata Corporation.
Topics Covered Include:
- The nature of policies for Unit Owners and for Condominium Owners or Strata Corporations
- The contents of the Strata Declaration
- Respective responsibilities of the unit owner and the Strata Corporation
- Definition of a Bare Land Strata or Condominium
- Definition of Common Property and Limited Common Property
- Specifics of owner coverage and unit owner Liability
- Contingency Coverage and Loss Assessment Coverage
- Liability of Strata Board of Directors
- Bylaws, Rules and Regulations of the Strata Corporation
- Issues around Duty to Repair
