Definition : Notice of loss

Written or oral statement that an insured sends to his insurer, claims adjuster or insurance broker serving as an intermediary, in relation to a loss likely to involve one of the guarantees of the insurance contract. It must be made by the insured, as soon as he becomes aware of the claim, or by any interested party. 

WHAT YOU SHOULD KNOW ! Under article 2470 of the Civil Code of Québec, any interested party may report a claim to the insurer if the insured (in this case, the co-ownership syndicate) refuses or neglects to do so, despite being aware of a claim that may trigger insurance coverage. This legislative provision allows affected third parties, such as an injured co-owner, to take the necessary steps to protect their rights and secure compensation for damages.

WARNING ! An insurer who has not been so notified, and thereby suffers injury, in such a case, may set up against the insured any clause of the policy providing for forfeiture of the right to indemnity in such a case.