Monitoring B.C.’s Home Warranty Insurance System
One of the ways in which the HPO works with industry to protect homebuyers is by overseeing the performance of British Columbia’s home warranty insurance system.
The HPO monitors the application of the Homeowner Protection Act regulations pertaining to the provision of home warranty insurance, and provides advice and guidance to warranty providers, builders, consumers and other regulatory bodies about the application of those provisions.
Maintaining regular contact with warranty providers and their agents/brokers allows the HPO to communicate concerns, share information, and generally ensures that home warranty insurance is a viable and effective system for consumers, builders and insurance companies.
As of December 2010, there were four companies offering home warranty insurance for new homes in B.C., three of which offered building envelope renovation warranty insurance:
- Aviva Insurance Company of Canada represented by National Home Warranty Group Inc.
- Echelon General
- represented by Aon Reed Stenhouse (building envelope renovation)
- represented by Pacific Home Warranty (new construction)
- RSA represented by WBI Home Warranty Ltd.
- Travelers Guarantee Company of Canada
View the current list of warranty providers approved by the Financial Institutions Commission on the HPO website.
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