INSURANCE

Arrange for the purchase of Fidelity Bonding by the corporation on all persons having access to the corporation's funds.

Arrange for the annual insurance appraisal or up-grade of the condominium complex by an independent appraiser.

Obtain quotes and present to them Board for the placing of the Master Insurance Policy on the corporation. 

Advise the Board on any changes required to existing coverage ensuring compliance with the corporation By-Laws.

Report to the corporation's insurer any claims action reported to the management company.

Inform the Board on any insurance claim activity affecting the Master Insurance Policy.

Act as an Insurance Trustee on behalf of the corporation and issue cheques to applicable contractors hired by the Insurance Adjuster.

Consult with owners on insurance claims and collect insurance deductibles as dictated by the corporation's policy regarding this matter.

Maintain an Insurance Claims History file on behalf of the corporation.

Provide and distribute to each owner a copy of the Insurance Certificate with associated mailing costs borne by the corporation.

Inform the owners on insurance coverage provided by the Corporation and advise them of changes affecting deductibles; Board policy and respond to insurance questions raised by individual owners.