RMWB Seeking To Solve Insurance Premium Issues Around Condo Corporations

The RMWB is looking to find a resolution to the issue of insurance premiums for Condominium Corporations.

On Tuesday, council voted unanimously to lobby the provincial and federal governments regarding insurance premiums for condos following claims after disasters and damages.

The motion was brought forward on October 8 by councillor Krista Balsom and authorizes Mayor Don Scott to send a letter to government officials.

Speaking to reporters, Scott says this situation is a crisis that needs attention from all levels of government.

“We have meetings scheduled in the next couple of weeks with the provincial government, so, we are going to back up that letter with meetings and try to ensure everyone has this on their radar as a crisis. The level of urgency needs to be understood by everyone.”

Scott says if the matter is not addressed immediately – there will be a lot of condo owners dealing with foreclosure.

He says they plan on lobbying immediately to get this situation resolved.

“Otherwise it’ll lead to foreclosures, more issues and we already have enough challenges. We need to start reducing them and not increasing them and we are going to do our best to lobby and we’re starting with letters – then we will re-evaluate depending on how that works.”

More from 100.5 Cruz FM