Proactive Risk Management: Practical Tips to Help With Insurance Costs

Insurance premiums for strata properties don’t have to be a mystery. Paul Murcutt, Senior Vice-President at BFL CANADA Realty, joins Thomas Beattie of OctoAI for an actionable look at how your strata can position itself as a preferred risk, directly impacting insurance costs and coverage flexibility.Drawing from the expertise of British Columbia’s largest strata insurance broker, this session delivers:- Practical checklists for fire safety, water damage prevention, seasonal maintenance, and incident reporting that make proactive management easier.- How consistent inspections, transparent incident reporting systems, and clear property management policies can reduce overlooked risks and defend your claims.- Savings opportunities such as BFL's Flowguard program, which offers discounted premiums if water detection and shutoff systems are installed.- The benefits of stakeholder engagement and creating a culture of prevention, accountability, and shared responsibility throughout your building community.- Documentation best practices that help strata councils negotiate better insurance terms and stand out in a competitive insurance marketplace.- Critical seasonal strategies that keep your strata prepared and resilient.Whether you’re on strata council, your condo board, a property manager, or an engaged owner, this session will deliver clear, actionable tips to foster long-term peace of mind, lower your insurance costs, and help your condo community reduce risk and cost.LEARN MORE► Discover OctoAI’s strata intelligence solutions: https://octoai.com/► Learn more about BFL CANADA Realty: https://www.bflcanada.ca/real-estate-insurance-services/