Errors & Omissions Insight | Liability Insurance is Mandatory For Mortgage Brokers In Many Provinces
Do you know if your insurance policy meets the current FSCO guidelines? While Canada’s hot property markets have you working long hours, overlooking your options for professional liability insurance for mortgage brokers can add up to a major oversight.
Property buyers, inspection firms and/or others may decide to sue you. What can you do? Start by first understanding the real risks that you face as a mortgage broker.
It’s mandatory in Ontario for mortgage brokers to carry errors & omissions liability insurance. Other provinces such as Alberta, British Columbia and Manitoba have also made mortgage broker’s errors & omissions liability insurance mandatory.
Professional Liability Insurance For Mortgage Brokers & FSCO Guidelines?
As published on the FSCO website, the minimum guidelines for mortgage broker’s errors & omissions liability insurance are:
You can visit FSCO’s website for a comprehensive overview of all the guidelines.
5 Professional Liability Insurance For Mortgage Brokers Coverages To Consider
When choosing your insurance, there are more things to consider. ALIGNED can provide you with more options for your professional liability for mortgage brokers coverage as well as products and services to address risks such as:
Professional Liability Insurance For Mortgage Brokers
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Our advocates can help you secure more insurance options and risk management strategies services and solutions for your business. Proudly 100% Canadian owned, we deliver the most value.
It’s time to get your insurance aligned. Want Canadian business insurance that’s ALIGNED with your bottom line? We can help. 365. Call us toll-free at 1-866-287-0448.
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