Expert insights from Bardha Llagami on insurance and risk management for Ontario condominiums

How FirstService Residential helps condo boards navigate coverage, compliance and costs

FirstService Residential supports Ontario condominium corporations with local expertise and the scale and depth of resources needed to manage risk, optimize coverage, and protect property value. Building on best practices from recent market articles, we asked Bardha Llagami, Insurance Director at FirstService Financial in Ontario, to share what boards should know about insurance, deductibles, regulatory change, and market trends across high-rises, low-rises, and townhome communities.

Ontario’s condo landscape at a glance

Ontario’s condominium sector is evolving rapidly, with more than 13,000 corporations and nearly 1.82 million residents living in condos. As communities modernise, sustainability initiatives like electric vehicle charging stations are becoming a frequent topic of discussion. Bardha highlights this trend as a growing concern for boards:
 

“EV chargers and the impact of installing charging stations on the condominium corporation.”

— Bardha Llagami

 While EV chargers support green living, they also introduce new insurance considerations, infrastructure upgrades, and cost-sharing challenges. Boards must plan carefully to balance environmental goals with risk management and compliance under the Condominium Act, 1998.

Insurance fundamentals for high-rises, low-rises, and townhomes

Boards in high-rises face concentrated risk from building systems, elevators, and shared infrastructure, while low-rises and townhome communities often contend with more varied site layouts, multiple roofs, and exterior exposures. The right program should address property, liability, directors and officers, crime, cyber, and water damage risks with policy limits and deductibles aligned to each building’s profile. FS Insurance Brokers, the affiliated brokerage for FirstService, negotiates coverage using portfolio scale, claims data, and tailored risk strategies for Ontario condos.

Deductibles, premiums, and today’s market dynamics

Recent years brought higher deductibles and significant premium pressure. As Bardha notes:
 

“Condominium deductibles are now much higher than they were previously.”

— Bardha Llagami

Ontario boards should review deductibles carefully in relation to reserve funding and incident trends. FirstService’s insurance and financial teams help boards model deductible scenarios, evaluate claims history, and align reserve strategies with realistic risk assumptions, drawing on FirstService Financial programs in insurance, lending, and cash management.
 

What boards should ask their partners

“What are the Risk management steps their management Company offers, to keep the condominium and community save. For example, we offer, Preventative maintenance programs, resident and board education, compliance monitoring, insurance management of policies for proper coverage.”

— Bardha Llagami

In practice, that means documented inspections, clear vendor standards, and evidence-based updates to risk registers that align with the Condominium Act. Larger providers like FirstService offer integrated programs that connect risk management with training, compliance, and technology so boards can communicate efficiently and make informed decisions.

Bardha’s background and focus areas

Bardha Llagami is the Insurance Director at FirstService Financial in Ontario. She joined the company in April 2025 and brings over 12 years of experience as a licensed broker. Raised in South Etobicoke, Bardha still has strong ties to her childhood home on Lakeshore, where her parents live. Her expertise spans condominium insurance, risk management, and financial solutions for boards. Bardha focuses on Toronto Waterfront communities and emerging trends such as EV charger installations, climate-related risks, and navigating Ontario’s evolving regulatory environment. She is passionate about helping boards implement preventative maintenance programs, compliance monitoring, and education initiatives to keep communities safe and financially resilient.

Emerging risks and the climate outlook

“Increased flooding, heatwaves, and unpredictable weather patterns will require stronger infrastructure, emergency preparedness, and sustainable urban planning.”

— Bardha Llagami

Boards should ask for property-specific water claim mitigation and prevention, heat event response protocols, and building envelope assessments that match insurer expectations. FirstService and FS Insurance Brokers can pair incident prevention with coverage analysis to mitigate loss frequency and preserve long-term insurability.

Market change and new entrants

“Many new, smaller, and less experienced property management firms are entering the market, during multiple Regulatory Changes, Stricter safety, accessibility, Fire code and rental regulations affecting operations and compliance.”

— Bardha Llagami

In a shifting market, boards benefit from partners who can demonstrate compliance readiness, risk documentation, and financial stability. FirstService’s Ontario team and FirstService Financial bring licensed insurance expertise, lending access, and cash management oversight that smaller providers may struggle to replicate consistently.
 

“FirstService Financial established in 1997- provides insurance, lending, and cash-management solutions, delivered by a team of licensed experts dedicated exclusively to our boards.”

— Bardha Llagami

What is unique in Ontario right now

“The insurance industry is entering a soft market and are seeing insurance premium decreases for the first time in years.”

— Bardha Llagami

A softening market is an opportunity to reassess limits, deductibles, and terms. Boards should run competitive placement processes and refresh risk profiles to capitalise on improving conditions, while keeping long-term resilience at the forefront. FS Insurance Brokers’ portfolio insights support boards in securing favourable terms without compromising protection.

Local snapshots and reviews from Ontario communities

Ontario’s condo environment is diverse, spanning high-rise towers in Toronto Waterfront neighbourhoods and suburban low-rise and townhome communities across Peel, Halton, and Waterloo. FirstService serves these varied needs with risk management programs and financial solutions tailored to each building’s scale and exposure.

Residents frequently cite responsive service and clear communication in public reviews. Examples include:
 

• “Professional management and clear communication. The building is well maintained and issues are addressed quickly.”

  — Google review, Mississauga

• “Consistent service and helpful staff. Processes are simple and updates are timely.”

  — Google review, Toronto

Final thought

Insurance and risk management are not one-time choices. They are ongoing, data-informed practices that protect people, property, and budgets. With FirstService Residential and FirstService Financial, Ontario boards gain local insight, structured programs, and measurable value so decisions about coverage, deductibles, and reserves remain transparent and future-ready.