Condominium Insurance Consultation

Regulation Number(s):
Instrument Type:
Bill or Act:
Insurance Act, Condominium Act, 1998, Building Code Act,1992
Summary of Proposal:
The purpose of this consultation is to develop a better understanding of the issues that the condominium community is facing with respect to insurance in Ontario, including the definition of 'standard unit' under the Condominium Act, 1998 (Condo Act), obtaining and maintaining reasonable insurance coverage for condominium corporations, condominium insurance affordability and availability and any related building code issues.

This consultation is being conducted by the Ministry of Government and Consumer Services, with support from the Ministry of Finance and the Ministry of Municipal Affairs and Housing (collectively 'the ministries').

The Ministry of Government and Consumer Services is responsible for the Condominium Act, 1998 (Condo Act), which governs the rights and responsibilities of the condominium community including developers, purchasers, owners, mortgagees, residents, and condominium corporations and their boards.

The Ministry of Finance is responsible for the Insurance Act and has oversight of the insurance sector. The Ministry of Finance also oversees the Financial Services Regulatory Authority of Ontario (FSRA), the agency that regulates insurance companies and agents, as well as the Registered Insurance Brokers of Ontario, which regulates insurance brokers. Ontario's oversight of the insurance sector focuses primarily on the conduct of insurers and their intermediaries.

The Ministry of Municipal Affairs and Housing is responsible for Ontario's Building Code Act, 1992 and the Building Code, which governs the construction of buildings in Ontario. The Building Code sets out the technical requirements related to building construction including materials that may be used, obtaining building permits, and the inspections that need to be carried out during construction.

The ministries have developed a Feedback Form to understand the issues associated with condo insurance affordability in Ontario and explore potential solutions.

The ministries welcome your feedback. You may submit your comments through the Regulatory Registry.
Analysis of Regulatory Impact:
No new direct compliance costs for regulated entities.
Further Information:
Proposal Number:
Posting Date:
November 23, 2021
Comments Due Date:
January 31, 2022
Contact Address:
56 Wellesley Street, 6th floor
Toronto, ON M5S 2S3