Dear insured member,

Since the inception of the Real Estate Insurance Alliance of Canada Inc. (REIA) errors and omissions (E&O) program, the REIA board of directors has sought to create a sustainable and affordable E&O program for the benefit of all insured members in our five participating provincial associations.

While the global insurance market has become increasingly challenging, the claims experience of the REIA errors and omissions program continues to trend positively. Accordingly, we are pleased to announce that the 2025 annual levies are being reduced from $478 to $450 (before taxes), a $28 (or 5.9 per cent) reduction from prior year.

As is common to many E&O programs insuring professionals, REIA funds a sizeable portion of the policy’s yearly aggregate claims limit (the self-insured retention) therefore improving program costs and operations. The portion of the levy devoted to insurance costs pays the insurance premium and funds the self-insured portion of the aggregate (80 per cent), with the remaining levies (20 per cent) allocated to operations, governance, and professional fees.

The per-claim limit remains at $1 million, and the overall (aggregate) policy limit remains at $20 million (the limit for all claims realized in the policy year). The policy deductible is $3,000 per claim, rising to $5,000 per member per claim for a second claim within a 36-month period, and further rising to $9,000 per member per claim for a third claim within a 36-month period.

Should you have any questions, please contact the finance department at your provincial association.

Best regards,

Brad Walker President,

Real Estate Insurance Alliance of Canada Inc.