Description of Coverages
Limits of Liability
Bareland Strata Property, – Form CMWMB-Jun-01-2012$147,843See Below
Business Interruption Not Covered 
Earthquake – Annual Aggregate – Extended Replacement Cost Applies$147,843 
Flood – Annual Aggregate – Extended Replacement Cost Applies$147,843 
Blanket Glass$Included 
Equipment Breakdown – Bylaws Included $ 147,843$500 
 Business Interruption – Loss of Profits (Gross Rentals) Not Covered  
 Included – Debris Removal, $500,000. Ammonia Contamination, $500,000. Hazardous Substances, $1,000,000. Expediting Expense, $500,000. Water Damage, $250,000. Extra Expense, $100,000. Service Interruption  Included 
 General Liability – Bodily Injury, Personal Injury and Property Damage Liability – Each Accident or Occurrence $10,000,000 *$1,000 
 Products and Completed Operations – Aggregate Limit $  10,000,000  
 Non-Owned Automobile 10,000,000   
 Advertising Injury Liability $ 10,000,000   
 Medical Payments – Each Person $ 50,000 
 Tenants’ Legal Liability – Any One Premises $ 500,000 $1,000
 Voluntary Compensation Extension – Strata Volunteers Coverage (Weekly Indemnity of 2/3 of Employee’s Weekly Wage, but not exceeding $500/week & set at $500/week for Volunteer Workers) $50,000  
 Strata Corporation Directors & Officers Liability – Annual Aggregate – Claims Made; Defense Costs Outside limit of liability – No limitation $ 5,000,000 Nil
 Professional Liability Extension for Property Manager per Wrongful Act – Annual Aggregate – Claims Made  Included Nil
 Discrimination Defense Costs Included    Included  
 Employment Practices Liability    Included  
Broad Form Money & Securities – Loss Inside & Outside Premises, Depositors Forgery$5,000Nil
Employee Dishonesty, Coverage – Form A$10,000Nil
Pollution Liability – Each Pollution Event, Including Bodily Injury or Property Damage and Clean-up Costs$1,000,000$10,000
Aggregate (Master) Policy Limit$5,000,000
Terrorism and Sabotage CoverageNot Covered2,500
Volunteer Accident Coverage Not Covered 7 Day Waiting Period
Intellect Privacy & Data BreachNil
Earthquake Deductible Buy–Down Coverage – Annual Aggregate Not Covered

Deductibles – Property

  • All Losses $2,500 except:
  • Water Damage $5,000
  • Sewer Back-up $5,000
  • Flood $25,000
  • Earthquake 10%, minimum $100,000
  • Residential Glass Breakage $1,000
  • Master Key Coverage $1,000
  • Lock and Key Coverage $250

Conditions – Property

  • All Risks of direct physical loss or damage to property described at Location(s) of Risk shown above.
  • Basis of Loss Settlement – Replacement Cost including by-laws.
  • Co-insurance Basis – 90% Co-insurance.
  • Extended Replacement Cost –30% Subject to an appraisal being filed with the insurers and dated within 12 months prior to the effective date of the policy.
  • Any Property additions, renovations or installation work will be subject to a limit of 15% of the insured value, with a maximum of $1,000,000.

Conditions – General Liability

  • Property Manager is an Additional Named Insured for their management of the Strata Plan.

*$1,000. Bodily Injury Deductible shall be waived on the first bodily injury loss/claim if there is no prior bodily injury loss within 5 years from the effective date of the coverage term

To download a PDF of coverages, Click Here