Following the co-ownership reforms implemented in particular by bills 141 and 16, as of April 15, 2022, it will become mandatory for each syndicate of co-owners to set up a liquid self-insurance fund available on short-term basis. This fund, like the contingency fund, is the property of the syndicate.
The Self-Insurance Fund is allocated to the payment of deductibles for insurance taken out by the syndicate and to the repair of damage caused to property in which the syndicate has an insurable interest, should the contingency fund or insurance proceeds cover for it. The amounts to be paid into the Self-Insurance Fund are determined by government regulation according to specific criteria.
This browser does not support this kind of file. Please download the file to view it: Download the file