Description of Coverages | Limits of Liability | Deductibles | |
| Bareland Strata Property, – Form CMWMB-Jun-01-2012 | $ | 147,843 | See 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 | $ | 5,000 | Nil |
| Employee Dishonesty, Coverage – Form A | $ | 10,000 | Nil |
| 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 Coverage | Not Covered | 2,500 | |
| Volunteer Accident Coverage | Not Covered | 7 Day Waiting Period | |
| Intellect Privacy & Data Breach | Nil | ||
| Liability | $ | 50.000 | |
| Expense | $ | 10.000 | |
| 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
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