Modernizing Insurance Requirements – Draft Regulatory Amendments

 

The Ministry of Government and Consumer Services is seeking input on draft regulatory amendments to the insurance requirements under Regulation 579/05 of the Real Estate and Business Brokers Act, 2002 (REBBA). The proposed amendments are intended to modernize the regulation and ensure RECO can continue to obtain the required coverage in the insurance marketplace.
This posting is the second regulatory posting on this topic. In March 2015, the Ministry posted a policy paper for public consultation. The draft regulatory amendments include proposals that were consulted on in March 2015, as well as two additional technical amendments to remove restrictions associated with coverage under both the deposit insurance and commission protection insurance.
The Ministry of Government and Consumer Services welcomes feedback on the proposal. Interested parties can respond by e-mail to: rebbainsurance@ontario.ca.
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Author: bramptonrealestateboard

At the Brampton Real Estate Board (BREB) we believe in the ownership of Real Estate. Our objective is to contribute to the capability and growth of our members in their endeavors by marketing all forms of real property throughout the greater Brampton, Halton Hills and Caledon marketplaces and beyond. The Brampton Real Estate Board is dedicated to providing an environment in which it’s Member REALTORS®, employees, Board of Directors, and Committee volunteers are encouraged to grow, succeed and develop in order to provide the highest level of professional conduct and service.

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