One of the Benefits of Working with a registered broker or salesperson
Monday Aug 15th, 2016Share
Consumer Deposit Insurance
All brokers and salespersons are required to be insured. The insurance program administered by RECO includes consumer deposit insurance – paid for by brokers and salespersons. In the event of fraud, misappropriation of funds or insolvency there is coverage available to consumers of up to $100,000 per claim to a maximum of $1,000,000 per occurrence. If the deposit is being held by your lawyer, you should contact the Law Society of Upper Canada to determine what insurance protection may be available.