Update on implementation timeline for Guideline B-2 title insurance provisions
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Today, the Office of the Superintendent of Financial Institutions (OSFI) announced a decision to defer the application of Section II of Guideline B-2 for the title insurance writers to January 1, 2027. The deferral decision reflects a careful consideration of the unique characteristics of title insurance and recognition of its importance to Canada’s real estate market. This deferral will allow additional time to:
- further examine the approach applied to large exposures in title insurance in other jurisdictions
- engage in additional consultation with title insurance industry during 2026 on the implementation approach.
Accordingly, a small modification to Section 2 of the Large Insurance Exposures portion of Guideline B-2 was made to improve clarity. OSFI remains committed to maintaining strong oversight of title insurers' activities in the commercial space through its supervisory activities.
OSFI will continue to apply rigorous risk assessment practices that appropriately address the specific characteristics of title insurance.