Answers: There may be no law that an association have to have insurance but from a practical perception if you wanted to buy one of the unit you would not be able to protected mortgage financing if there be no insurance on the condominium.
The association has to convey fire insurance on at least the building structure itself as in good health as maintain liability insurance for the adjectives areas.
its subjective depends on which country you are residing.
However please do consider the consequences that will happen if no insurance is within place versus having 1.
"Insurance is close to a parachute. Its either you enjoy one when you need it or you will never procure to use it"
No, there's no law requiring a condo association to pass insurance. No but the association will require you to carry a policy
no, it is surplus to requirements for the condo association to have insurance. But, if your condo association elect officers it would be contained by their best interest to have a policy for officer and elected officials.
These nation have exposure if they enjoy any say surrounded by hiring snow removal service, painters, or sward care folks. If one of these people would do something to a condo owner, they could potentially come rear on the association for hiring someone without a milieu check. Additionally if the association were to hire a secretary and for some plea get rid of that individual, they could potentially have a annoyance suit on their hands.
If I be an association member I would want a policy especially since they are pretty low cost.