Another day, another warning against bogus insurance agents pretending to be authorized to deal with clients in Ontario.
The Financial Services Regulatory Authority of Ontario (FSRA), which recently warned against unlicensed individual Andi Efovia, is now telling prospective policyholders not to purchase insurance from a certain Dean Wright. Just like Efovia, Wright does not hold the required license in the province.
Operating in the Greater Toronto Area, Wright has engaged in fraudulent activity, according to FSRA.
In its warning, the watchdog noted: “Wright is known to have issued fraudulent liability insurance certificate slips in the name of Aviva Insurance Company of Canada as insurer and HUB International Ontario Limited as broker.”
The unlicensed individual, FRSA added, appears to be using the email address [email protected] and phone number 647-557-4524.
Buying insurance from unlicensed entities provides no assurance or protection, FRSA stressed.
“Consumers are not protected under the Insurance Act if they purchase insurance from unlicensed individuals and/or companies,” the regulator said.
“You have no assurance the policy is genuine, which can result in claims not being covered. Your policy can be voided or cancelled for misrepresentation. Policy cancellations can impact your insurance history which can lead to increased costs.”
On its website, FRSA has a record of all agents who currently hold an active licence, as well as those whose licence has expired within the last 24 months.
The regulator stated: “A person who acts as an insurance agent without being licensed is guilty of an offence under the Insurance Act and may be prosecuted for such violation.”
What do you think about this story? Share your thoughts in the comments below.
