PREPARING AN SIUD FOR YOUR AGM: What you need to know, now.

Published on: 05/27/20 12:48 PM

Providing answers to frequently asked questions regarding standard insurable unit descriptions (SIUD) during the COVID-19 pandemic.

Why Costing Matters

Published on: 04/9/20 12:38 PM

By Harold Weidman Condo premiums continue to increase at unprecedented levels – this article explains why you need to pay attention. Premiums are comprised of two major parts: 1 – The rate that the insurance company applies per $100 of coverage based on an estimate 2 – The cost estimate The first is controlled by […]

RELIANCE’S RESPONSE TO COVID-19

Published on: 03/23/20 1:39 PM

At Reliance, we take this pandemic of COVID-19 seriously. We are in uncharted territory related to understanding and attempting to protect ourselves and our fellow Canadians against the COVID-19.  We wanted to provide our clients with information regarding measures in order to protect our clients, be they Board or Strata Council members, unit owners & […]

Changes to Insurance Appraisals and Reserve Fund Studies

Published on: 12/13/19 1:21 PM

The government approved an Order in Council on November 26 to the Condominium Property Amendment Act Regulations subsequent to suspending the original regulation amendments on June 27, 2019. In September 2019, I was asked by Service Alberta to join in on the Stakeholders Committees for Insurance and Reserve Fund Studies for input on possible changes. […]

Condo Insurance: The Buck Stops Here

Published on: 09/17/19 1:32 PM

By Harold Weidman Over the past several years, condominium corporations have struggled with events or occurrences which have impacted not only the macro but micro markets including weather-related flooding and water-related insurance claims. Increases in premiums, due in part to the effects of 9/11, seem so distant but the insurance industry is still playing catch […]

Reserve Fund Study Providers, Plans and Reports

Published on: 06/16/18 1:35 PM

This publication is intended to provide general information only and is not a substitute for legal advice. Qualifications for conducting a reserve fund study After January 1, 2020, in order to act as a reserve fund study provider, a person must be: a professional engineer; a professional technologist; a certified engineering technologist or applied science […]

Reserve Funds

Published on: 03/15/17 1:28 PM

Condominium corporations must establish and maintain a reserve fund to cover the costs of major repairs to and replacement of the corporation’s real and personal property, common property and managed property. Funds from the reserve fund can also be used for: a reserve fund study and reserve fund report any other report prepared by an expert about the corporation’s real and personal property, […]