Support Page - iPro Realty Ltd. Event

On this page you will find support for the the iPro event related specifically to Commission Protection and Consumer Deposit Claims under the Professional Liability Insurance Policy Administered by RECO.  For other key updates and information related to the iPro event, please visit RECO’s website.

UPDATE: OCTOBER 1, 2025

Consumer Deposit Insurance Claims

Beginning August 29, 2025, the Program Manager began paying eligible consumer deposit claims submitted under the registrants’ professional liability insurance program. Eligible consumer deposit claims are being paid on a rolling basis, in line with the date of transaction close.

Commission Protection Insurance Claims

The Program Manager is investigating outstanding commission protection claims. This process is complex, as it must balance the number of claims against the available funds and insurance limits. While commission-related claims can sometimes take years to resolve, our goal is to finish the process within months, not years. We will continue to provide updates on our progress.

What the Program Manager is working through

• The scale of misconduct at iPro requires extraordinarily detailed diligence and tracing to properly assess claims.
• In some cases, transactions appear to have been reassigned to other brokerages, complicating the process of determining which claims are valid. It is important to note that any agreements with iPro Realty Ltd. that were transferred to other brokerages may not be valid and may void other consumer deposit or commission protection claims. These reassignments also delay the process and negatively impact the broader pool of claimants.
• Misinformation about the insurance claims process, including the status and amount of funds in the frozen accounts, has created anxiety and concern for potential claimants, delayed claim processing, and created further hardship for those affected by the misuse of trust funds.
• The significant volume of claims submitted to the Program Manager has placed exceptional pressure on this process.

Update on claim processing timing

We understand the desire for greater specificity, but the complexities of the process mean that firm dates cannot yet be provided. What we can confirm is that payouts will proceed as quickly as possible.

We will provide another update within the next eight weeks.

What the Program Manager is doing

To move this work forward as quickly as possible, additional resources have been added to process claims.

Additionally, the Program Manager has been receiving updated data and information from RECO as it becomes available.

The Insurance Program Manager and the staff working to resolve this matter understand how stressful this is and are committed to supporting claimants throughout this process. Our team is available to answer questions and provide guidance as matters progress.

For frequently asked questions, please refer to this page for information. Referring to this information will free up claims adjusters and staff to focus on processing claims as quickly as possible.

REPORTING CLAIMS

Consumer Deposit

Home buyers and sellers with an iPro transaction need to file a consumer deposit insurance claim form as soon as possible. Here are the next steps to take:

1. Please complete this Consumer Deposit Insurance claim form. (You may fill the form out to the best of your ability, and ClaimsPro LP will be in touch if they need additional information.)
2. Send the completed form to insurance@reco.on.ca, with the closing date in the subject line.
3. After your claim form is received, RECO will forward it to ClaimsPro LP, the claims adjuster. A ClaimsPro LP representative will contact you—or your lawyer—directly.

Commission Protection

Agents are urged to file a commission protection insurance claim form with the insurance claims adjuster, ClaimsPro LP, as soon as they are able to do so. Claim forms need to be submitted for each deal with commissions outstanding so they can be assessed promptly.

Submitting a form earlier will not change the amount of the claim payment – claims will be treated equally and paid, at the earliest, when a transaction closes and commissions are due. The insurer is exploring all avenues to try to pay out commission claims as quickly as possible.

To file a commission protection insurance claim form with the adjuster, please complete the following steps:

1. Complete the Commission Protection Insurance claim form.
2. Email it directly to claims@reco-claims.ca and include “Attention: Jan Perkins” at the top of your message.
3. A ClaimsPro representative will contact you.

If you need assistance completing a claim form, please contact ClaimsPro directly. You may fill the form out to the best of your ability, and ClaimsPro will be in touch if they need additional information. You can contact ClaimsPro LP at 1-877-740-1913 or claims@reco-claims.ca.