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Mortgage Broker News | 25 Apr 2013, 12:01 AM Agree 0
More than 10 per cent of Ontario brokerages are operating without the errors & omissions insurance required by the industry’s governing act, according to FSCO.
  • Paolo Di Petta | dipettamortgage.com | 25 Apr 2013, 07:57 AM Agree 0
    Just wanted to clear up my comment - It's not the same two people. At both brokerages, it was just me and the (different) broker, but both brokers had no E & O claims against them.

    We definitely need more competitors in this space. Realtors pay much less than we do, and routinely have far more claims.
  • JERRY J. ROSE | 25 Apr 2013, 12:55 PM Agree 0
    I totally agree that we need more insurance providers to achieve reasonable rates.
    I would like to see IMBA OR CAAMP compile some accurate statistics on the number of claims and the result or amounts paid out by the insurers above the deductible recovered from the brokerage.
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