FCT Commercial Services: 20 years, 200,000 policies and stronger than ever!
Sep 28th, 2015 | By Renzo Farronato
We’ve just sold our 200,000th commercial policy and we couldn’t be more excited!
As Vice-President of Commercial Solutions here at FCT, I wanted to take a moment to thank Shawn Jones of the law firm Jones & Company for helping us achieve this milestone with his recent purchase of commercial title insurance. His was the 200,000th commercial policy issued by FCT.
Where we’ve been
I also thought that this would be a good time to reflect on just how far we’ve come to get to today and to the celebration of this milestone for our commercial division.
Back when we started in the early nineties, title insurance was a relatively new concept in Canada, having been pioneered by our tenacious founders who saw a need in the industry and didn’t rest until lenders, lawyers, brokers and real estate professionals alike saw it too.
Commercial title insurance offers essential protection and helps make a commercial transaction far more efficient. Plus, it provides lenders, lawyers and their clients with all-important peace of mind — peace of mind that comes from knowing that despite any issues that may arise pre-closing, you have the ability and the confidence to move ahead with your deal, as planned. Furthermore, because unexpected issues do arise that can call ownership into question even well beyond the closing, our commercial policies include the duty to defend and coverage for many post-purchase issues.
At FCT all commercial underwriting is done by a team of experienced law clerks and lawyers who work on a case-by-case basis to suit each specific deal. This also affords the personalized service needed to keep clients satisfied and protected, solving problems that might otherwise delay or jeopardize a closing.
Another benefit of title insurance is the indirect, yet critical protection it offers lawyers. By shifting the lawyer’s risk onto FCT in the event of a claim, their reputation and good-standing are protected.
Where we’re going
At FCT, we’re honoured to have had the opportunity to play a role in many large national commercial projects over the years, as well as in the smaller, local ones. Through all these projects, we have embraced a “customer first” philosophy which allows us to deliver a consistent, excellent customer experience. It’s what we mean when we say Experience Excellence™ and serves as our guide to the future of commercial title insurance and how we can take this product to the next level.
But to do so, we’d like your input. Share your insights below on how commercial title insurance has helped your business or protected your commercial investment — we’d love to hear from you.
Thank you again to all of our FCT loyal customers for making this 200,000th commercial policy milestone possible.
Subject to certain exceptions, commercial title insurance policies equal or below $10M CAD are provided by FCT Insurance Company Ltd. Commercial title insurance policies above $10M CAD are provided by First American Title Insurance Company. Reference should be made to policy documents to confirm the insurer on any individual transaction. Services by First Canadian Title Company Limited. The services company does not provide insurance products. This material is intended to provide general information only. For specific coverage and exclusions, refer to the applicable policy. Copies are available upon request. Some products/services may vary by province. Prices and products/services offered are subject to change without notice.
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