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Why is a formal notice essential after a loss?
Following a water damage incident in the building, the syndicate of co-owners took the necessary measures by reporting the claim to its insurer. A $25,000 deductible was applied as part of the claim settlement, and the syndicate now seeks reimbursement of this amount from the co-owner identified as responsible for the leak. This identification was based on an inspection revealing that the leak originated from defective plumbing in the co-owner's unit. To proceed, the syndicate…...
