New! Deal Protection Endorsement for commercial title insurance policies.
FCT is pleased to offer the Commercial Deal Protection Endorsement for transactions up to $5 million.
Already available for residential transactions, this endorsement provides coverage for losses that may arise due to certain errors or omissions made by the lawyer/notary in complying with the written instructions of the insured owner or lender* under the title insurance policy or failing to perform those professional obligations imposed by law or by their governing body.
The Deal Protection Endorsement protects against losses due to:
- Errors or omissions in the review of the agreement and documents related to the purchase or financing of the Land;
- Errors or omissions made in the statement of adjustments or the disbursement of closing proceeds;
- Failure to conduct title or off-title searches in accordance with written instructions from the client;
- Errors or omissions made in the written legal opinion regarding the title or off-title searches;
- Failure to obtain additional documents that pertain to the transaction.
Say yes to more protection!
Simply opt-in to add the Deal Protection Endorsement to all your eligible residential and commercial FCT title insurance policies.
If you’re already signed up to add this coverage to all your residential title insurance orders, you’ll automatically get the endorsement to all your eligible commercial title insurance orders placed starting on March 20th, 2023.
Visit moreprotection.fct.ca or call us to learn more.
*The Deal Protection Endorsement on residential and commercial transactions is not available in Quebec. In British Columbia, the lawyers and notaries are the insured. Residential Deal Protection Endorsement is not available for existing homeowner policies.
