Last August, the Law Society provided a Notice to real estate lawyers advising that effective October 1, 2025 title insurers are required to report to FINTRAC. The Notice contained important cautions for lawyers who were considering: (i) acting as a title insurer’s agent to provide it with a client’s confidential information; and (ii) entering into a written agreement with the title insurer to provide non-legal services — to verify a client’s identity to assist title insurers.
To address lawyers’ concerns regarding potential risks, we negotiated new agreements with three title insurers to better protect BC lawyers. Please ensure that you enter into a new agreement, as the earlier version may not fully align with your professional obligations. In addition, the new agreement now includes enhanced provisions — a broader indemnity, a covenant not to sue and limited disclosure obligations — to better safeguard your interests while ensuring compliance with your professional responsibilities.
To enter into an updated agency agreement, take the steps set out in our December Notice to Lawyers. In addition, consider using this client consent form.
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