Insurance Referral Fee
Over the past years the strata insurance market has been challenging. On Friday, September 4, 2020, the BC Provincial Government has officially banned the payment of insurance referral fees to anyone who is not an insurance licensee, including strata managers and strata management brokerages. On Friday, September 4, 2020, the Province approved changes to the Financial Institutions Act prohibiting the payment of referral fees to strata managers for the sale or renewal of strat