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Real Estate Insight | The Fine Print May Include Exclusions
Real estate has become a national obsession. Fluctuating prices and consumer demand, rental technology innovation led by such innovators as Air BnB and affordability concerns are prime topics in cafés, boardrooms and family gatherings. According to a PwC Canada report, “investors, developers and property owners are cautiously optimistic about the Canadian real estate market’s outlook for the year ahead.”1
PwC notes, “According to the Conference Board of Canada’s Metropolitan Outlook 1, Spring 2016, national GDP is forecast to grow to 1.7% in 2016 and 2.3% in 2017—and stay above 2% through 2020.”2 With industrial properties, purpose-built multifamily rentals, urban mixed-use developments and seniors housing and retirement homes trending 3, if your business is real estate, you are at the centre of a rapidly changing marketplace.
[Did you know?] In all provinces except Quebec, common law establishes that business owners owe a duty of care to the public. Unfortunately, accidents happen and injured people or parties may allege that:
- A duty of care was owed
- That duty of care was breached
- Damages and/or injuries were incurred
Whether you’re using drones to map properties to hiring new agents or looking to manage your firm’s cyber liability, ALIGNED Insurance advocates can help.
Buying, Selling & Renting: Real Estate Insurance
We take the time to assess your specific office coverage needs and match these with the best possible insurance products and services. Some of the coverages most relevant to real estate firms include:
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Our advocates can help you secure the best insurance products, services and solutions for your real estate firm.
Source: 1,2,3 PwC Canada – Emerging Trends in Canadian Real Estate 2017