You want to insure your property?
We know insurance can be very complex and you are looking for a personalized solution to meet your needs. Our goal is to simplify the way we present information to properly explain the value and help you make sense of it.
Discover your benefits
Here are the advantages and options available to you. A condominium insurance solutions program developed by our team of brokers and designed for the unique needs of condominium corporations.
Most condominium insurance solutions companies now need to share the risk with other insurers. As your insurance broker, we are able to canvass the insurance marketplace, approach financially sound insurers and always act in your best interests. Simply put, BFL CANADA has developed the ideal insurance program for you.
NOTE: The details and coverage limits below are for reference purposes only and may vary by province. For individualized information, please contact your broker.
PROPERTY
A condominium corporation must obtain and maintain property insurance on the common property. The property insurance must be on the basis of full replacement value and insure against major perils as set out in the regulations, and any other perils specified in the bylaws.
PROPERTY EXTENSION
We provide you an additional $1M in coverage on top of your basic policy insurance.
COMMERCIAL GENERAL LIABILITY
Protects the corporation, its employees and volunteers against claims made by third parties due to property damage, bodily injury and personal injury. No aggregate. Property Manager extension is available.
DIRECTORS AND OFFICERS LIABILITY
Protects past, present and future condominium council members against lawsuits made against them that arise from decisions or actions they have taken. Coverage includes human rights complaints and defense costs. The coverage also extends to the Property Manager.
VOLUNTEER ACCIDENT
Protects council members, unit owners and/or residents who are injured while volunteering. Age limit 90. Includes honorariums.
ENVIRONMENTAL LIABILITY
Protects the condominium in the event a leaking pollutant damages neighbouring properties or the environment. Each incident limit is
$1M.
EARTHQUAKE
Covers property in the event of an earthquake. Deductible between 5% and 15% – Minimum $100,000 to
$250,000.
TERRORISM
Protects against riots, strikes, civil commotion, malicious activity and direct terrorist activity.
Up to $2M limit available.
CRIME
Protects the corporation’s liquid assets against theft by employees, council members and the property manager. The policy limit is intended to protect your operating expenses and reserve fund.
No deductible.
PRIVACY AND CYBER LIABILITY
Condominiums and property managers rely on electronic record keeping and data storage. Online communities and social media tools are also emerging. Both present higher exposure under the Privacy Act. BFL CANADA protects the council members and the Corporation if it is sued for breaching those privacy laws. Coverage options with no deductible are also available.
LEGAL EXPENSES
An insurance policy that provides you with coverage for legal costs incurred in the event of a dispute related to your condominium. Choose from a panel of condominium lawyers, always there for you. No eligibility restrictions.
Representatives available across Canada
The BFL CANADA advantage in a competitive market
BFL CANADA has achieved extraordinary growth because of our consistent ability to perform and deliver due to our expertise, professionalism and dedication, as well as our entrepreneurial culture. This culture and work ethic have driven our growth and attracted organizations with which we have established meaningful and mutually beneficial partnerships.
WHY DOING BUSINESS WITH BFL CANADA IS IN YOUR BEST INTEREST?
We are insurance brokers, we don’t work for an insurance company.
- We negotiate on your behalf to get the best protection, rate and deductibles.
- We work with you to develop tailor-made solutions adapted to your reality.
- We deal with all major insurers that specialize in your industry.
- We have offices across Canada to meet your local needs and partners in over 140 countries for your global ambitions.
- We are solution seekers for companies of all sizes and every industry.
At BFL CANADA, we help our clients get peace of mind. Most insurance policies require various insurance companies to share the risk. As your insurance broker, we are able to canvass the insurance marketplace, approach financially sound insurers and always act in your best interest.
