2025 insurance renewal
Payment is due by August 22, 2025. The total cost of professional liability coverage, including taxes and expenses is $500 for the 2025-2026 policy period.
RECO will be collecting more than 100,000 insurance payments over the summer. Pay by August 15, 2025 to ensure a worry-free payment before the busiest period of the renewal collection.
Learn more about the 2025-2026 insurance renewal.
Professional liability insurance program
The insurance program offers the most comprehensive insurance protection of its kind in Canada. It provides three types of coverage: Errors and Omissions, Commission Protection and Consumer Deposit
What does the coverage include?
Coverage | Errors and Omissions | Commission Protection | Consumer Deposit |
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What’s covered? | Covers mistakes such as: - Forgetting a key clause in the APS
- Making a mistake with respect to taxes
- Using the wrong form
- Under or overpricing
- a property
- Or, none of the above— groundless accusations can lead to expensive claims
| Covers loss of commissions against: - A registrant becoming insolvent (i.e., brokerage goes bankrupt)
- Theft, fraud, misappropriation, or wrongful conversion by a registrant
- Social Engineering (subject to $25,000 sub-limit per claim)
| Covers consumers’ deposits against: - A registrant becoming insolvent (i.e. brokerage goes bankrupt)
- Theft, fraud, misappropriation, or wrongful conversion by a registrant
- Social Engineering (subject to $25,000 sub-limit per claim)
|
Limit per claim | $2,000,000 (effective Sept. 1, 2025) | $200,000 | $200,000 |
Limit per year | $4,000,000 (effective Sept. 1, 2025) | N/A | N/A |
Limit per event | N/A | $4,000,000 | $4,000,000 |
Deductible | $2,500 (damages only) - Increased by $2,500 for each additional claim where damages are paid in a 3-year period
| $250 | $0 |
Contact info | ClaimsPro LP Phone: 1-877-740-1913 Fax: 1-866-735-1033 claims@reco-claims.ca | ClaimsPro LP Phone: 1-877-740-1913 Fax: 1-866-735-1033 claims@reco-claims.ca | RECO Phone: 416-207-4800 Toll free: 1-800-245-6910 Fax: 416-207-4820 insurance@reco.on.ca |
Features of the insurance program
At all times, the coverage applicable in any given situation will be determined by the particular circumstances and allegations of the claim or potential claim asserted against an insured and will be subject to the policy terms and conditions.
Contact RECO at:
MyWeb
T: 416-207-4800 or 1-800-245-6910 | F: 416-207-4820 | cs@reco.on.ca