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Real Estate Errors and Omissions Insurance Corporation

A special act corporation formed pursuant to the Real Estate Services Act solely to provide errors and omissions insurance to British Columbia real estate licensees.

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February 16, 2017

Do I have coverage for fines or penalties levied by the BC Financial Services Authority or a real estate board?

A

Do I have coverage for fines or penalties levied by the BC Financial Services Authority or a real estate board?

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No, there is no coverage under the Indemnity Plan for complaints made against you to the BC Financial Services Authority or a real estate board or for any fines, sanctions or penalties (including orders requiring you to disgorge, or give up, commissions or fees) that the BC Financial Services Authority or a real estate board may impose on you  (see Exclusion 18 and definition of “Damages”).

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