Condominiums carry a number of risks, some of which owners and condo boards may not be aware. In examining these risks and the necessity of sound reserve funds to cover future maintenance, the actuarial profession has several insights to offer in this area.
For many Canadians, owning a condo is one of the most significant investments of their lives. However, the longevity of condo infrastructure in Canada is threatened by various risks that require more attention.
A recent poll commissioned by the Financial Services Regulatory Authority of Ontario(FSRA) found that 88% of respondents feel more needs to be done to encourage people to save for retirement, while 60% feel there is not enough public information available about pensions.
With implementation of IFRS 17 on the horizon, the Office of the Superintendent of Financial Institutions (OSFI) has released its final insurance capital guidelines. Learn the key points of the guidelines and prepare for the changes coming on January 1, 2023.