That can be true, granted. Still, there is liability. Many condo's still cover certain kinds of repairs, Gas lines, plumbing, Electric, Roofing leaks, etc.
I wouldn't see electric being covered, simply because each condo unit is its own zone, independent of each other.
I could maybe see plumbing, as far as any
main drain and supply lines are concerned, because they may be shared amongst several units in the building. But if your shut off valve for your kitchen sink line, for instance, springs a leak, I don't see how that's the association's problem if you own the unit.