All insurance is going up. Condo insurance has gone up 100% to even 250% for wood condos in some instances this year. Our condo board was hit very significantly.
Simply put, insurance companies are not making any money and we are in a province that has been plagued with natural disasters in the past decade (including hail).
A cap like it was put in by the NDP is just backwards socialist thinking, companies are private and can simply refuse to insure Albertans and take their business elsewhere, and a few already have. Now we have less players without a cap.
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