First Canadian Title

First Canadian Title

February 21, 2007 12:07 ET

FIRST CANADIAN TITLE INTRODUCES IDENTITY THEFT PROTECTION

Innovative policy offers an extra layer of protection for homeowners

Attention: Business/Financial Editor, City Editor, News Editor OAKVILLE, ON - NEWS RELEASE--(CCNMatthews - Feb. 21, 2007) - First Canadian Title, Canada's leading provider of title insurance, will soon begin offering its title insurance policyholders the option of purchasing protection from the financial and administrative headaches associated with identity theft.

The offering comes on the heels of intense media attention to the issue of identify theft, along with increased consumer demand for protection against the rising threat of the theft of personal information. According to PhoneBusters national anti-fraud call centre, Canadians lost more than $16.2 million in 2006 as a result of identity theft.

"This policy won't stop identity theft from taking place, but it will provide added peace of mind from the devastating consequences of having your personal information compromised," said Susan Leslie, Vice President, Claims and Underwriting. "Despite people's best efforts to protect their personal information, the fact is that identity theft can happen to anyone, at any time. Falling victim to identity theft can be financially and psychologically draining."

Over the past three years, First Canadian Title has embarked on a number of high-profile consumer campaigns and partnerships to raise awareness of the issue of real estate title fraud, including participating in the Fraud Prevention Forum, a group of private and public sector firms, consumer and volunteer groups and law enforcement organizations whose mandate is to educate consumers and businesses on the effects of fraud across Canada.

First Canadian Title's identity theft protection policy is available, in conjunction with the purchase of a title insurance policy, to new and existing homeowners. For a one-time fee, the new policy offers:

- As much as $30,000 for expenses involved in credit rating recovery and associated costs
- Up to $10,000 for legal fees resulting from the loss, theft or forgery of a credit card, debit card or forged cheques
- Recovery of lost wages for up to $500 per week, for a total of four weeks, as a result of time taken off work to deal with the fraud
- Identity theft protection for as long as the homeowner owns the property.

About First Canadian Title
First Canadian Title is Canada's leading provider of title insurance, and other related products and services for residential and commercial real estate transactions. Founded in 1991 and based in Oakville, Ontario, First Canadian Title employs approximately 1000 people from coast to coast. Its customers include more than 11,000 lawyers and notaries nationwide, every major Canadian chartered bank, other lending institutions, real estate agents, mortgage brokers and builders. First Canadian Title is the registered business name in Canada of First American Title Insurance Company. For more information about First Canadian Title, please visit www.firstcanadiantitle.com.
IN: OTHER

Contact Information

  • Mary De Sousa, First Canadian Title
    Primary Phone: 905-287-3092