Update on iPro Realty insurance claims and ongoing actions

• 50% pro-rated commission payments are underway
• 1,500 of 2,650 claim forms have been processed
• Payment offers have been issued on 700 processed claim forms
• Updated insurance acknowledgement forms have been in place since December 30, 2025

As promised, I am providing former iPro Realty agents and others directly affected with an update on the status of insurance claims and the actions taken since my last update on December 24, 2025.

On December 15, 2025, RECO and the insurance program manager announced a plan to accelerate payments of eligible commission protection claims by providing a pro-rated amount of 50 per cent to those impacted by the misuse of trust funds by iPro Realty’s principals. This approach was implemented to ensure eligible claimants receive an initial portion of commissions owed as quickly as possible, while RECO continues to pursue the recovery of additional funds through ongoing civil proceedings.

Insurer awaiting confirmation from claimants on approximately 500 claim forms

As of January 5, 2026, approximately 1,500 of the 2,650 commission protection claim forms received have been processed. The insurance program manager expects to complete all remaining assessments by the end of January. 

To date, pro-rated payment offers have been issued on approximately 700 claim forms, with offers for the remaining processed claims being issued daily. Of these, payments have already been made on 200. This means that offers for an additional 500 claim forms are awaiting confirmation, banking information and signed Acknowledgement and Assignment of Interest forms from claimants.

Updated insurance document available since December 30, 2025

RECO was advised that some registrants had concerns regarding the insurance release language, so changes were made and the document was simplified. The updated acknowledgement form was made available for reference on the insurer’s website on December 30, 2025.

We are encouraging affected registrants to follow through on the existing insurance claims process, such as responding to requests from the claims adjusters and submitting the signed forms while the insurer pursues its upcoming civil proceedings.

RECO’s goal remains unchanged: that 100 per cent of eligible commission protection claims are paid, with the initial pro-rated 50 per cent payment being delivered as quickly as possible while recovery efforts continue.

I want to reiterate that RECO continues to explore all appropriate financial and legal avenues to work toward the full payment of eligible commissions. We won’t stop until we have solved this matter.

I also want to reiterate that no consumers have been negatively impacted by this matter. Approximately $5 million in consumer deposit claims have already been paid under the Consumer Deposit insurance policy, and RECO continues to work closely with the insurer to ensure consumer protection while accelerating commission payments for eligible registrants and pursuing accountability for those responsible.

Please expect another update in the week of January 19, 2026.

Sincerely,

Jean Lépine
Administrator, Real Estate Council of Ontario