Stewart Title Canada

Stewart Title Canada: title insurance for the Canadian real estate market

Stewart Title Guaranty Company operates in Canada as a title insurance underwriter, serving a network of thousands of legal professionals across the country. The company was licensed to operate in every Canadian province and territory in 1988, and its Canadian division is headquartered in Toronto, with offices distributed coast to coast.

Its business is built around lawyers and notaries, whom it regards as the cornerstone of every real estate transaction. The company presents itself as a collaborator, not a competitor, of these professionals, and states that its role as a title insurer is to assume the risk, while legal professionals prepare the documentation, advise clients and represent their interests.

Protection against title fraud

The company warns that real estate title fraud remains a significant phenomenon in Canada, with homeowners losing their homes to fraudsters who sell them without their knowledge. To address this risk, Stewart Title offers Treefort IDV multi-factor identity authentication technology, designed to verify client identity and meet professional know-your-client (KYC) requirements, as well as to protect the professional from becoming involved in fraud or money laundering.

On the residential side, the company notes that homeowners without an owner's policy can obtain coverage against title fraud by purchasing an Existing Homeowner Policy through their lawyer or notary. The company recommends reviewing the property's closing documents or checking with the lawyer or notary to determine whether an owner's policy was obtained at the time of purchase.

Residential and commercial products

The residential catalogue includes the Residential Owner Policy, the Residential Loan Policy, the Residential Existing Owner Policy and the StewartPROTECT™ product. In the commercial segment are the Commercial Owner Policy, the Commercial Loan Policy, the Commercial Extended Protection Endorsement, the Commercial Gap-Only Policy and the Commercial Survey/RPR-Only Policy.

The company also offers digital tools for professionals: premium calculator, request premium quote, Smart Order Form, the Unity® Lender Centre platform, the Search Services powered by ESC service and the StewartPAY payment system. It also provides access and enrolment for NextSTEPS and Unity® Lender Centre.

Client profile and claims management

Stewart Title Canada structures its offering by type of professional: services for legal professionals, for lending professionals, for real estate professionals and for buyers and owners. On the commercial side, the company details specific offerings for legal professionals, lending professionals and owners.

Claims management includes information on the company's experience in this area, the procedure for submitting a claim and the option to do so online. The company states that its underwriters and claims lawyers are legal professionals, which allows them to provide specialized support, and says its practical, results-oriented approach aims to resolve every claim promptly.

Track record and financial strength

The company traces its origins to 1893, in a small Texas office, and presents itself as one of the world's largest title insurers, with more than a century of experience protecting owners and lenders against the title risks associated with residential and commercial real estate transactions. In Canada, it describes itself as a leading title insurer with more than 25 years of activity.

Stewart Title Guaranty Company states that it has one of the largest policyholders' surpluses in the industry, an indicator that determines the liability an insurer can assume and the number of policies it can issue. The company notes that its financial strength is affirmed by the ratings awarded by independent financial rating firms, with more information available on its parent company's site, stewart.com.

Resources for professionals and support

The site makes resources available to professionals such as policy order forms, search guidelines, claims stories, downloadable brochures, notable commercial transactions and training and education programs. The company also provides specific contacts for the business development team, software support, underwriting, claims, office information, media inquiries, compliments or complaints and requests for additional information.