Introduction

Strata corporations face evolving property, liability, and governance exposures driven by aging infrastructure, severe-weather volatility, rising repair costs, and digitized administration. Summit’s strata program safeguards residential, commercial, and mixed‑use buildings with custom insurance and risk management designed around your building profile, risk tolerance, and long‑term reserve planning. Service availability: Canada-wide, excluding Quebec.

Who we serve

• Low- to mid‑rise condominium and apartment stratas

• Townhouse and duplex communities (bare‑land or conventional)

• Mixed‑use assets with retail, office, or amenity spaces

• Master associations and phased developments

• Professional property managers acting for strata corporations

Program highlights

• Capacity: More than $100M+ per location (subject to underwriting and market conditions)

• Custom Property and General Liability packages with strata‑specific endorsements

• Built for councils and managers: tailored limits/deductibles, proactive loss control, and dedicated claims advocacy

• Optional extensions for governance, equipment, cyber/privacy, legal disputes, environmental incidents, inflationary pressure, and volunteer activities

Coverage architecture (core components)

• Commercial Property: Buildings, common area contents, mechanical/electrical rooms, signs, and appurtenant structures; options for replacement cost and bylaws upgrades. See Commercial Property Insurance.

• Commercial General Liability (CGL): Premises/operations, tenants’ legal liability, products/completed operations for common‑area work. See General Liability.

• Business Interruption: Loss of income/extra expense for common elements, tailored indemnity periods to reflect rebuild timelines. See Business Interruption.

One‑look coverage map

Optional extensions (program‑ready)

• Directors & Officers (D&O): Personal asset protection for council/board members and the corporation against governance claims (breach of duty, misrepresentation). See Directors & Officers.

• Boiler & Machinery (Equipment Breakdown): Sudden/accidental breakdown of boilers, HVAC, electrical panels, pumps, elevators; can be scheduled under property.

• Legal Expense: Coverage for specified legal disputes (e.g., contract, employment‑related matters), complementing D&O.

• Environmental/Pollution: Third‑party bodily injury/property damage and clean‑up costs from sudden/accidental pollution events.

• Cyber & Privacy: Incident response, data restoration, business interruption, third‑party liability arising from compromised resident/strata data. See Cyber Liability.

• Identity Theft Expense: Expense sublimits to assist affected individuals after a covered privacy event (often paired with Cyber).

• Building Inflation Protection: Endorsements that adjust limits for construction‑cost inflation during the policy term.

• Volunteer Accident: Medical expense/AD&D for registered volunteers working on behalf of the strata.

Risk management and loss control

• Water damage prevention: leak‑detection sensors in risers/MEP rooms, automatic shut‑off devices, regular valve testing, and documented inspection logs.

• Fire protection: annual inspections (sprinklers, standpipes, alarms), hot‑work permits, clean electrical rooms, and impairment protocols.

• Aging infrastructure: phased replacement programs (plumbing stacks, roofs, membranes, elevators) aligned to reserve studies; maintain serial numbers and service records.

• Premises safety: slip‑resistant coatings, snow/ice contracts with timestamped logs, lighting/CCTV maintenance, and contractor certificates of insurance.

• Catastrophe readiness: wildfire/wind/hail plans, pruning and ember protection for rooflines, and relocation/continuity procedures.

Dedicated claims support

From first notice to resolution, Summit coordinates adjusters, restoration vendors, and coverage negotiations with transparent updates to councils and managers. Start here: Claim Services.

Underwriting data checklist (to quote faster)

• Property details: civic address, construction type, year built and major updates (roof, plumbing, electrical, heating), number of stories/units, square footage

• Valuation: most recent appraisal or cost‑of‑replacement estimate; bylaws upgrade requirements

• Protection: sprinklers, alarms, hydrant distance, fire hall distance, security systems

• Operations: occupancy mix (residential/commercial/amenities), vacant units, restaurants or heat‑intensive tenants

• Loss history: 5–7 years of claims (type, date, paid/reserved, corrective actions)

• Maintenance: water sensor program, contractor controls, written policies/logs, reserve study highlights

• Governance: strata bylaws relevant to insurance, service contracts (snow, landscaping, security)

Common risk scenarios and how the program responds

• Vertical water escape floods multiple floors: Property for building/finishes; BI for extra expense; potential subrogation to contractor/manufacturer.

• Slip‑and‑fall in lobby during freeze‑thaw: CGL for bodily injury defense/indemnity; documented snow logs support defense.

• Boiler/elevator breakdown: Equipment Breakdown for repair/replacement; BI for extra expense (temporary accommodations/elevator attendants where applicable).

• Board dispute over reserve decisions: D&O for defense costs and covered settlements.

• Property‑management portal breached: Cyber for IT forensics, notification, credit monitoring, regulatory defense, and third‑party liability.

Pricing drivers and deductible strategy

Premium and terms reflect building age/updates, construction type, fire protection, occupancy mix (e.g., restaurants/retail), location‑based catastrophe exposure, claims history, selected limits, and deductibles. Flood and earthquake are frequently excluded or sub‑limited under standard forms and may require separate buy‑ups; align choices to tolerance and reserve strength. See Commercial Property Insurance for common exclusions.

Why Summit

• Independent market access with value‑driven comparisons and custom curation across leading insurers

• Dedicated account management, rapid response, and transparent communication; see About Us

• Clear disclosure of how we’re compensated; see How We Get Paid

• Sector familiarity across construction/realty ecosystems that intersect with strata assets; see Construction & Realty and Property Management Insurance

Availability and next steps

• Availability: Canada excluding Quebec

• Next steps: Share the underwriting checklist, desired limits/deductibles, and reserve plan parameters. We’ll deliver a market comparison, recommendations, and an implementation timeline aligned to renewal or mid‑term restructuring.

FAQs

• Do unit owners still need their own policies? Yes. The strata master policy covers common property and building elements; owners typically need condo unit policies for personal contents, betterments, loss assessment, and personal liability.

• Can we tailor deductibles to water claims? Yes. Many programs offer separate water/sewer‑backup deductibles; choosing higher deductibles can improve pricing when supported by prevention measures.

• How long should our BI indemnity period be? Match to realistic rebuild timelines (permitting, code upgrades, supply chains); many strata choose 18–24 months for complex losses.

• Are flood and earthquake standard? Often not; they may be excluded or sub‑limited and must be specifically purchased depending on location and market appetite.

• How does claims handling work? Report to Summit; we coordinate with the insurer/adjuster and provide regular updates to council and management. See Claim Services.