The Ontario Court of Appeal held that mandatory mortgage broker fraud coverage applied to client money misappropriated while held in trust for a mortgage transaction. The court read the policy in its regulatory context and allowed the appeal.
Headline
Mortgage broker fraud coverage extends to misappropriated trust funds
The Ontario Court of Appeal held that mandatory mortgage broker fraud coverage applied to client money misappropriated while held in trust for a mortgage transaction. The court read the policy in its regulatory context and allowed the appeal.