Update from the Insurance Program Manager

Pro-rated payments of iPro commission protection claims begin this week

I’m pleased to report on the important step announced today by the Insurance Program Manager, Alternative Risk Services, to begin pay out of eligible commission protection claims at a pro-rated amount of 50 per cent with the assistance of the professional liability insurance program. 

Read the Insurance Program Manager’s December 15, 2025 update.

RECO’s priority has been to facilitate the acceleration of commission protection payments in accordance with the policy. Over my first few days with the organization, I have seen the Insurance Program Manager’s commitment to move forward swiftly to address the issue.  

In addition to this important progress on commission protection insurance claims, RECO has successfully worked with the insurer to ensure that no consumer was adversely affected by this event – with some $5 million of consumer deposit claims already paid out. 

Supporting the claims process 

In August 2025, RECO moved to safeguard funds by freezing all iPro accounts. Once a freeze order is in place, outstanding funds can be deposited, but no funds can be released or accessed by any party without a court order, which requires evidence of loss. 

It is essential that only eligible claims are paid out to ensure that the maximum amount of funds would be available to eligible claimants. Consistent with its usual practice, the Program Manager will investigate all claims and has already identified some claims that are duplicates or have been submitted in error. At the same time, it is important that potential claimants know that RECO will support this effort by advising that it will take regulatory action against any individual who submits a fraudulent claim. This may involve laying charges under the Provincial Offences Act, referral to the Discipline Committee, or a proposal to revoke registration.

The Insurance Program Manager will issue a further update during the week of January 12, 2026.  

Restoring trust

RECO is keenly focused on the important steps required to restore trust within the real estate services sector and will continue to listen and engage with the sector on ways to protect the public interest and to ensure a fair, safe and informed marketplace. 

Sincerely,

Jean Lépine
Administrator, Real Estate Council of Ontario