If you’ve ever wondered what happens after you contact REIX in the face of a lawsuit, you may be surprised to learn just how many people are available to help.
Over the years, REIX has developed relationships with a host of experts it can call upon on your behalf. So, who exactly are these people and how do they help?
Here are answers to some of your most pressing questions:
Once you’ve been sued, what does REIX do?
Once REIX reviews your file and analyzes the claim, it then picks the best defence counsel, or lawyer, to work on your case based on the nature of the allegations and lawyer’s experience in defending that type of claim. Regardless of who is chosen, REIX remains involved throughout the entire process.
How do you choose the law firm?
REIX works with 10 law firms across Alberta and Saskatchewan, each of which has its very own REIX team of lawyers.
What about other parties who could be at fault?
Once REIX analyzes your claim, it decides if other people should be involved as well. For example, REIX may believe a property inspector or seller are at fault for the claim and should be brought into the lawsuit that was filed against you.
What kinds of experts can help with my case?
REIX works with a vast array of experts to help defend claims against subscribers. These people are leaders in their field and are familiar with REIX and the real estate industry, such as appraisers, standard of care experts and engineers.
Who are REIX’s in-house experts?
Behind the scenes, REIX relies on people with expertise beyond lawyers (though we have those too!), including financial and business experts such as actuaries, investment managers and insurance consultants.
How can REIX help before a lawsuit is filed?
Of course, no one wants to get sued. That’s why REIX spends much of its time and energy helping ensure subscribers are never in that situation in the first place. Sometimes, REIX will call on a lawyer to help resolve the matter before any lawsuit is filed, but in most cases our in-house expertise and proactive interventions are all that are required.
The Real Estate Insurance Exchange (REIX) provides mandatory errors and omissions insurance to approximately 13,500 Alberta and Saskatchewan real estate industry members and protects them from financial loss due to negligent acts while performing their real estate duties. Follow us on Facebook!