FSCO warns of two unlicensed auto insurance sellers in Ontario
Published: April 30, 2019
Updated: June 3, 2019
Author: Luke Jones
CATEGORY: Car Insurance
The Financial Services Commission of Ontario (FSCO) has sent out two notices warning customers in the province about two people selling insurance without a license.
In its notice, the FSCO says to avoid doing any business with the so-called “professionals”. Andrew Burrows-Trotman and Owais Shaikh (alias Salman Khan) are the subject of the warning. Both are said to have been selling auto insurance in Ontario without a license.
Both parties are pretending to represent the Desjardins Insurance company, however, neither holds a license through the FSCO or has an affiliation with Desjardins.
The commission recommends customers should avoid the two fraudsters and avoid buying any insurance product from them.
Under Ontario law, licensed insurance agents or brokers can advise customers, provide information on risks and benefits regarding purchasing coverage. FSCO reminds customers that they should always check on its website, where a database of licensed agents and companies is available.
Licensed brokers in the provinces are all viewable on the Registered Insurance Brokers of Ontario (RIBO) website.
This is the second time this month that the FSCO has issued a warning about an unlicensed seller of auto insurance who pretends to work with Desjardins.
“Consumers who purchase items or insurance from individuals or entities that are not licensed as agents or insurers in Ontario are not protected under the Insurance Act and the regulations that govern Ontario’s licensed insurance companies and agents,” the FSCO said in its statement.