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Canadian Mortgage and Title Insurers sign Letter of Intent to launch new Association

TORONTO, Dec. 10, 2014 (GLOBE NEWSWIRE) -- On November 12, 2014, a group of Mortgage and Title Insurance companies licensed to do business in Canada executed a Letter of Intent to formalize their commitment to launching the Mortgage and Title Insurance Industry Association of Canada (MTIIAC) to be known in French as Association des Compagnies d'Assurance Hypothécaire et Titres du Canada (ACAHTC).

It is the intent of the parties to the Letter of Intent to launch the new industry association early in 2015. Parties to the Letter of Intent are:

Canada Guaranty Mortgage Insurance Company,
Chicago Title Insurance Company,
FCT Insurance Company Limited,
Genworth Financial Mortgage Insurance Company of Canada and,
Travelers Insurance Company of Canada.

All title insurance company members are current members of the Title Insurance Industry Association of Canada (TIIAC). It is the intent of TIIAC members to transition TIIAC activities to the new association.

MTIIAC members look forward to sharing information about MTIIAC's mandate, membership and a website in the New Year.

CONTACT: Wendy Rinella VP Public Affairs, TIIAC info@TIIAC-ACCAT.com Laurent Nadeau vice-president Quebec, info@TIIAC-ACCAT.comSource: First Canadian Title