File Photo (Image Credit: CFJC Today)

By James Peters / The Canadian Press

Strata Insurance

B.C. Liberal housing critic blasts government for strata legislation devoid of financial help

Jun 25, 2020 | 12:08 PM

KAMLOOPS — The B.C. government says it’s taking the first steps to address concerns about sky-high costs and the availability of insurance for condos.

Housing Minister Selina Robinson introduced legislation that proposes to amend the Strata Property Act and the Financial Institutions Act to bring more transparency to the insurance market.

It also gives property owners more tools to deal with the challenges they face.

Kamloops-South Thompson MLA Todd Stone is the BC Liberals’ critic for housing. Stone says the legislation doesn’t address immediate needs.

“(I’m) very disappointed that there’s nothing in the bill, or anything wrapped around the bill, that would provide financial support and relief for people impacted,” Stone told CFJC Today.

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Premiums for condos have risen by as much as 50 per cent.

“We did put out 13 different ideas, actions including several that were about leaving more money in people’s pockets,” said Stone. “Unfortunately, the government opted not to embrace those specific ideas.”

Stone says Robinson’s bill will be debated in early July.