Definition : Risk

An unforeseen occurrence, susceptible of causing either bodily injury, moral or material damage or a loss, against which one can subscribe insurance (for example: an accident, a fire, theft, a flood, etc.). Section 4 of the Regulation to establish various measures in matters of divided co-ownership insurance, published on April 15th, 2020 in the Quebec Official Gazette enumerates the list of risks which must be covered by the insurance subscribed by a co-ownership syndicate, unless one or more are expressly excluded by the insurance contract or a covenant. The risks covered include theft, fire, lightning, storms, hail, explosions, water leak damage, sewer backup and overflows from appliances connected to water distribution piping within the building, strikes, riots or civil disturbances, the impact of an aircraft or vehicle, and vandalism or malicious acts.