OUR ALBERTA EXPERIENCE
Normac has been operating in Alberta for over a decade and contributed to a major shift in how the industry delivers insurance appraisals. Thanks to our competitive pricing, three-year programs, and turn-key service, Normac has become the preferred supplier for many prominent property management firms between Calgary and Edmonton.
In 2021, Normac acquired the insurance appraisal portfolio of Calgary-based Reliance Asset Consulting. As the two largest specialized replacement cost appraisal firms in Canada, joining our dominant forces will further the common mission to provide clients with peace of mind through superior replacement cost appraisals and unrivalled customer service. With staff based in Calgary and Edmonton, the unified company will continue to be guided by its dedication to its clients, the communities it serves, and the industry as a whole.
MEETING ALBERTA’S NEEDS
In the Alberta Condominium Property Act, the condo corporation is required to insure the common property and units against loss resulting from destruction or damage caused by any peril, and that this insurance must be equal to the replacement cost of the condominium as described.
To comply with this, Normac’s Total Insurable Value considers all incurred costs and presents them in a digestible report with information that is easy to extract. Our insurance appraisal programs are created with you in mind. We offer additional value through program alignment with insurance renewal dates and automatic updates.
Normac now also offers Standard Insurable Unit Description (SIUD) reports to meet the requirements of Alberta’s legislation. To read more about Normac’s delivery of Standard Insurable Unit Descriptions, click here, or stay up to date with the legislation here.
If you are looking for a Reserve Fund Study, talk to our exclusive partner, Dan Jabonski at Reliance Asset Consulting. Normac clients with a current insurance appraisal program benefit from a fee discount on a reserve fund study. Visit our Partner’s Page for more information.
OUR ALBERTA COMMITMENT
We believe that it is equally our duty to show support in the condominium community. We are a proud sponsor and member of both the CCI South Alberta Chapter and the CCI North Alberta Chapter. We also participate annually in the Alberta Condominium and Real Estate Conference and the Alberta Condo Expo.