A recent review of our Standalone DASbusiness policy for Condo/Strata boards has led us to conclude that coverage and pricing determination need to be different from our standard DASbusiness policy. Therefore, the following changes are effective immediately
Coverage changes to the Standalone DASbusiness policy sold to condominiums and strata boards
- Under Property Protection, the legal nuisance element of coverage has been removed.
- Pricing will be based upon the number of units (not the revenue and payroll) to provide clients with more reflective and consistent pricing.
Please note that the $2,500 deductible that was introduced recently for the DASbusiness
Contract Disputes and Debt Recovery coverage does not apply
to the Standalone DASbusiness policy for condominiums and strata boards.
Broker Portal changes
When you select the Condo/Strata business category, a notification will automatically be sent to our Underwriting Department. They will email you a Condo/Strata application form. Please complete and return the form to Underwriting for pricing determination.
We will be contacting you for renewals of existing policyholders, in order to ensure the Condo/Strata application form has been completed and pricing is accurate. The renewal documentation will include a notification to the insured detailing the changes in the policy wording and pricing.
If you have any questions regarding these changes, please do not hesitate to contact your Broker Consultant or the DAS Underwriting Department at 1.888.582.5586.