MemberApril 10, 2022 at 4:48 pm
OK, it seems there was a misunderstanding there.
When I asked “Would they simply contact an insurance broker and ask for an insurance package meeting the requirements of the CPA&R?” I was referring to the condo board, not individual owners.
In other words, if the board was using the default bylaws, which don’t have an insurance section, how would they specify the corporation’s insurance requirements to an insurance broker? Would they simply phone up an insurance broker and say ‘Give me a quote for an insurance package meeting all of the CPA&R requirements”?
This must be possible somehow because new condominiums use the default bylaws until they are replaced by special resolution with something else, and they would be required to have insurance during this time.