BC Financial Services Authority has released its final report into British Columbia's unhealthy strata insurance market. This report is the culmination of a nearly year-long review of this issue.
The report finds that a convergence of factors, both local and global, have created a perfect storm leading to dramatic year-over-year strata insurance increases for consumers and a potentially unsustainable market for insurance providers.
Read the Final Report - Strengthening Foundations: A Report of the State of Strata Property Insurance in British Columbia
Read BCFSA's Strata Insurance Interim Report
Read Best Terms Pricing Media Release
For more information relating to BCFSA's report please contact stratainsurance@bcfsa.ca or call 236-468-4085. A helpful FAQ can be found here.
For specific inquiries, please note the appropriate party to contact as detailed in the chart below:
Contact | Topic | Contact Details |
---|---|---|
Media Request | Media | commsteam@bcfsa.ca |
Strata Property Managers | Complaints/Inquiries | advisor@recbc.ca |
Real Estate Agents | Complaints/Inquiries | advisor@recbc.ca |
Insurance Brokers | Issues about Obtaining Coverage | Contact Us |
Insurers | Complaints/Inquiries Unfair Practice & Misconduct | insurance@bcfsa.ca |
Unauthorized or Unlicensed Insurance Business | Reporting Company or Individual for Unauthorized Insurance Activities | insurance@bcfsa.ca |
Strata Council/Property | Building Codes/Material/Construction Costs | Housing.Policy@gov.bc.ca |
Captives/Self-Insurance | Statutory Approvals and Application Process | statapprovals@bcfsa.ca |
Clarification Relating to BCFSA's Final and Interim Reports | Questions and Feedback | stratainsurance@bcfsa.ca |
Public-Private Partnership/Public Insurance | Govt of B.C. | Contact your local MLA |
Legal Disputes | Legal Assistance | Contact Us |
Public FAQ