The short answer to this question is “yes”, condominium directors do run risks of personal liability.
The fundamental problem, I believe, is that condominium insurance just isn’t sufficiently profitable for the insurers. I think the reason is that the premiums are based on the risk of large claims (say, insured losses of $100,000 or more) … and in actual practice condominium corporations often have many smaller claims.
2018 has been an exceptionally busy year for condominium managers and directors in Ontario. The first phase of the amendments to the Condominium Act brought widespread change to condominium management and administration. Here’s a quick list of some of the key changes: