RTA · Condominium Property Regulation
Part 6 — Insurance
61 Perils to be insured against
corporation must place and maintain insurance against the
following perils:
(a) fire;
(b) leakage from fire protective equipment;
(c) lightning;
Section 61 AR 168/2000
( d ) s m o k e ;
(e) windstorm;
(f) hail;
(g) explosion of natural, coal or manufactured gas;
(h) water damage caused by flood;
(i) water damage caused by sew er back-up or the sudden and
accidental escape of water or steam from within a
plumbing, heating, sprinkler or air conditioning system or
a domestic appliance that is located within an insured
building;
(j) impact by aircraft, sp acecraft, watercraft and land
vehicles;
(k) riot, vandalism or a malic ious act, other than vandalism or
a malicious act caused by an owner to the unit the owner
owns or by an occupant or tenant to the unit that the
occupant or tenant occupies;
(l) any other perils as required in the by-laws.
(2) Notwithstanding subsection (1), in respect of a bare land unit, a
corporation is, unless the by-laws provide otherwise, required to
place and maintain insurance against only those perils referred to in
subsection (1)
(a) to which the bare land unit may be at risk, or
(b) to which the property for which the corporation is
responsible may be at risk.
(3) Notwithstanding subsection (1)(h), for the purposes of section
47(1)(a), (b) and (c) of the Act the peril referred to in subsection
(1)(h) is excluded where coverage against that peril is not available
for the property being insured.
(4) The perils referred to in subsection (1)(a) to (k) refer to those
perils covered by standard insurance policies and as customarily
understood in the insurance industry.
(5) The insurance coverage referred to in section 47(7) of the Act
and the extent or amount of liability and the perils to be insured
against under section 47(7) of the Act are subject to any limitation,
exception, exclusion or restriction that
(a) is usual and customarily imposed or provided for in the
insurance industry, or
Section 61.1 AR 168/2000
(b) is reasonable in the circumstances,
as may from time to time be imposed or otherwise provided for by
the insurer.
(6) For the purposes of the Act and this Regulation, insurance
placed by a corporation is not to be considered inadequate by
reason only that the insurance is subject to any limitation,
exception, exclusion or restriction that
(a) is usual and customarily imposed or provided for in the
insurance industry, or
(b) is reasonable in the circumstances,
as may from time to time be imposed or otherwise provided for by
the insurer.
AR 168/2000 s61;23/2001;108/2004;154/2019