Ellen Roseman

Personal finance columnist at the Toronto Star and previously the Globe and Mail. My passion is consumer advocacy and making sense of money

Sep 8, 2021
Published on: LinkedIn
1 min read

Here’s a revealing article about the fees paid by title insurance providers to Canadian real estate lawyers. Are the lawyers disclosing these fees to their clients? And Is this payment in the customers’ best interest?

As many in my network will know I have for some time been trying to get either FSRA or the LSO to end the practice of rebating title insurance premium to lawyers. Attached is an article from a recent edition of the Law Times. The argument that the rebates are OK if disclosed does not hold up - either in Insurance law or pursuant to the Rules of Professional Conduct that require lawyers to disclose they did NOT get a fee. I know conveyancing practice is tough but these rebates drive fees lower. Higher volume firms get larger rebates that allow them to advertise lower fees. This is not how my profession should be treating the public on what for most people is their single largest lifetime investment.

Title insurance referral fee could become ‘greatest argument’ against self-regulation, says lawyer

lawtimesnews.com