Whereas strata corporations in British Columbia have seen insurance premiums swell up to several hundred percent, and strata owners similarly had deductibles rise exponentially, all due in part to climate change-related risk aversion by insurers: And whereas stratas have increasingly become British Columbians residence of choice because of their relative affordability and improved land use, but those perceived values are now threatened over escalating insurance costs; And whereas the loss of multi-unit homes as a viable housing option for British Columbians would be economically catastrophic to our province: Therefore be it resolved that UBCM request that the Province act swiftly and decisively to create a risk-sharing model that returns strata premiums and owner deductibles to 2019 levels, adjusted for inflation.
