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2018 Renewal

Each year, CHF Canada sends participating co-ops a full report of any changes to the costs and benefits of the Commercial Insurance Program. The Co-operators will distribute the 2018 renewal documents and invoices directly to the co-ops starting November 28, 2017.

Highlights of the 2018 renewal

• Average increase of 5%
• Important new Privacy Breach coverage
• New Risk Management Program launch in January

Claims experience differs across the country

The claims experience for each of the three regions varied, resulting in different changes to the rates for each region:


The Eastern region experience was very good-there were fewer claims than usual, which resulted in no change to the insurance rates in the Atlantic provinces.


Experience in Ontario was positive on the property side, but less so when it came to liability claims. Ontario policies will renew with no change to the property rates but with an 8% increase in liability rates.


The experience wasn’t quite as positive in the West for a second year in a row, which means an 11% increase in property rates for 2018. The property rate increase will be reduced to 5% for those co-ops that have no losses in the last 5 years. The good news is that due to good liability experience, the property rate increase will be partially offset by a 4.5% reduction to the liability rates in the West. Some of the large losses were weather- related, which are hard to predict or prevent, but there were also large fire losses in the region. And while not all fire claims are preventable, we encourage co-ops to practice continuous fire protection, and provide fire prevention education to all members-to keep fire claims, and costs down-which will result in better insurance rates and a much safer community.

No changes were made to the credit/surcharge table, so the credits and surcharges calculated using your co-op’s loss ratio will be the same as last year. Co-ops that practice good risk management will benefit once again. Your co-op may see an increase or change in the final premium amount you pay due to:

  • An inflation factor applied every year to keep the very valuable guaranteed replacement cost coverage up to
date (this will apply to co-ops that have not had an updated building valuation in the last 18 months). The inflation factor for 2018 will be 2% in all three regions.
  • An increase in your building’s value after a building valuation assessment
  • A surcharge based on your co-op’s five-year loss ratio 
 Increased earthquake rates (in B.C. only, applicable to a small number of co-ops

Changes to existing coverages

New Coverage for ‘Privacy Breach’

We’re excited to let you know that we have included a brand new coverage this year.
Your co-op will now be covered in the event you experience a data breach—which means the unauthorized disclosure or potential exposure of sensitive, protected data. This coverage, called Privacy Breach Liability, has a $250,000 limit, plus $25,000 coverage for Privacy Breach Expenses.
No deductible applies to this coverage.

You will also have access to CyberScout services—a secure, breach response website with valuable resources to help you defend against inadvertent data exposure, theft or loss. See the attached flyer for more information.

Equipment breakdown

Equipment breakdown rates are reduced by 5% for most co-ops in the program.


Limits for Loss of Money by Employee Theft are changing, with new options from $25,000 up to $250,000. Premiums for most co-ops are reduced. Talk to your Co-operators representative for more details.

Water damage claims

Co-ops with multiple water damage claims may see an increase to their water damage deductible.

Co-op contingency plans

We would like to encourage housing co-ops to have contingency plans in the event of unexpected circumstances (for example, fire or flood) that would affect the co-op’s ability to do business in their office. This would apply mostly to destroyed computers and compromised backup information. It is a very important risk management practice to use some form of cloud-based backup for your office computers, and keep a computer with access to the cloud-based software stores offsite. Co-op Cost-Cutters offers a product to help with this, which provides off-site data storage.

Help to cut costs—increase your deductible

One of the ways your co-op can offset the cost of higher premiums is to raise your deductible. Here’s the deductible savings chart showing the percentage saved on raising to a higher deductible.

Region Raise your deductible Save on your property rate
All Regions $2,500 10%
$5,000 15%

Still included in the program

Help for small co-ops

In order to help keep the program fair to everyone, premiums for small co-ops will again be subject to a separate discount/ surcharge table that considers the lower premium those co-ops pay for insurance. This separate table will continue this year. Small co-ops are identified as those with an annual premium of under $4,000 in the Atlantic and $8,000 in the Western regions.

Claims-free accident forgiveness coverage (at no extra cost)

Co-ops that have not made any claims in the past five years will continue to qualify for this coverage so that the first time they do make a claim, it’s forgiven and will not count towards their loss ratio or affect their discount or surcharge. So co-ops should think twice about making small or unnecessary claims and be encouraged to become claims-free to take advantage of this unique and important coverage.

Saving your co-op money is still key

  • Claims-free accident forgiveness coverage (at no extra cost). Co-ops that made no claims in the past five years will continue to qualify for this coverage. When you do make a first claim, it’s forgiven; it won’t count towards your loss ratio or affect your discount or surcharge.
  • Increase your deductible by $2,500 and save 10% on your property rate. Increase by $5,000 and save 15%. Ask us how!


If you have specific questions about your co‑op’s insurance coverage, please contact your Co‑operators representative. If you have program questions, contact Linda Stephenson at lstephenson@chfcanada.coop or 1-800-465-2752, ext. 234