Claims Case Studies
Simple Claims Handling Procedures
FCT is committed to working with you to ensure our claims process is simple and straight-forward. Our claims handling philosophy is geared to solving problems, not creating obstacles. Our no-fault claims process and history of claims-paying experience is unparalleled in Canada.
FCT provides a wide spectrum of coverage so that in the case of a claim, you and your clients are covered either through our national Platinum Title Insurance Policy or our Loan Policy. If there is a challenge to your clients' ownership or interest in the property, we assume the responsibility of defending their rights and, providing compensation when required.
Below are some examples of our commitment to resolving claim issues quickly and with a minimum of distruption to our customers:
Case Study One: Survey Issue
Issue: Lack of Access
On the subdivision plan, the insured's lot had a right of way over a small portion of the adjoining lot, allowing the insured to have easier access to their lot. The right of way, although it appeared on the plan of the subdivision, was not added onto the Certificate of Registered Ownership issued by the land titles office.
FCT Solution: The neighbour was not cooperating with the insured to allow for the correction of the Certificate of Registered Ownership. FCT retained counsel to have the issue corrected and paid all legal fees and expenses to rectify the situation. Platinum Title Insurance Policy, Covered Title Risk 10.
Case Study Two: Liens and Encumbrance
Issue: Prior Mortgage
In 1999, a discharge on a private mortgage on a property was obtained and registered the insured owner had since sold. As one of the prior lenders was deceased, only one mortgagee had signed the discharge; however, a death certificate was never provided for registration and the mortgage therefore remained on title. The property is now being sold again and we were contacted in relation to the outstanding mortgage issue.
FCT Solution: FCT contacted the prior lender to obtain an original death certificate for the deceased mortgagee and also had the prior mortgagee sign a new discharge for registration. FCT paid the fees and registration costs for the discharge and the death certificate and retained the insureds' counsel for the purpose of registration. Ontario Loan Policy, Covered Title Risk 6.
Case Study Three: Contravention of Zoning By-Law
Issue: Municipal Setbacks
The insured homeowners received a letter from the municipality asking for the enforced removal of a part of their home due to an encroachment. First Canadian insured the owner against the enforced removal of the encroachment of part of the house located on the insured property into municipal setbacks.
FCT Solution: FCT covered the issues in this matter, and settled based on quoted costs to remove the encroachment and the corresponding decrease in value of the property. Platinum Title Insurance Policy, Covered Title Risk 25 (a).
To see more cases of our claims expertise, please click here
