What Happened

The Real Estate Council of Ontario (RECO) has launched a new elective continuing education course focused on professional liability insurance, effective July 16, 2026. Designed for all registered real estate professionals in the province, the initiative aims to deepen registrants' understanding of the mandatory Professional Liability Insurance Program. The course was developed following sector consultation, which identified insurance as a critical area requiring targeted educational updates. It covers three primary coverage types: Errors and Omissions, Commission Protection, and Consumer Deposit insurance. Registrants must complete a mandatory assessment within the course to earn continuing education credits. The program explains obligations under the Trust in Real Estate Services Act, 2002, and uses practical scenarios to demonstrate how the insurance applies in real-world transactions. This launch is part of RECO’s broader continuing education modernization journey to strengthen learning outcomes. Jean Lépine, administrator and acting CEO of RECO, emphasized the program's role in maintaining trust and confidence in Ontario’s real estate services sector.

Why It Matters

Professional liability insurance is a mandatory legal requirement for all registered real estate professionals in Ontario, serving as a primary consumer protection measure. By launching this elective course, RECO is addressing gaps in how registrants understand their obligations and the specific mechanisms of the insurance program. The course clarifies how coverage for insured losses and claims operates, which is vital for agents navigating complex transactions. The mandatory assessment ensures that professionals are not just aware of the requirement but understand its practical application. This educational push supports RECO's goal of modernizing regulatory education to better protect consumers and maintain industry integrity. The initiative highlights a regulatory focus on ensuring that the insurance program fulfills its intended role beyond mere registration compliance.