New Bill 165 to make E&O insurance compulsory in Ontario for home inspectors

New Bill 165 to make E&O insurance compulsory in Ontario for home inspectors

New Bill 165 to make E&O insurance compulsory in Ontario for home inspectors Home inspectors will soon be in need of coverage if the Ontario government and Bill 165 have anything to do with it.

The bill, the Licensed Home Inspectors Act proposes to impose regulation upon home inspection services across the province.

If passed the legislation would require inspectors to take out errors and omissions insurance as well as imposing standards pertaining to training procedures.

The preamble to the bill states that the status quo represents too great a peril to home-owners and homebuyers.

“The current unregulated environment for home inspectors poses risk for the consumer. An unqualified home inspection poses a primarily financial risk from situations such as an unexpected repair and maintenance costs. In addition to financial risk, in some circumstances the condition of homes could also constitute a safety risk to homeowners.”

Home inspectors are already regulated in Alberta and British Columbia.

The bill has been ordered referred to the Standing Committee on Regulations and Private Bills.