TORONTO, Oct. 10, 2013 /CNW/ - The Financial Services Commission of
Ontario (FSCO) is warning consumers that Capital United Brokers, and an
individual called "Gina" claiming to represent the company, are not
licensed to do insurance business in Ontario.
Following a referral, consumers contacted "Gina" directly by phone at
601-990-6303, and at 276-415-6028. The individual claimed to work for
Capital United Brokers.
One consumer received a "pink slip" insurance card listing the Dominion
of Canada General Insurance Company, and "Cynthia White" as the selling
The Dominion of Canada General Insurance Company, an insurance company
licensed by FSCO, has confirmed that it has no association or
affiliation with these individuals or Capital United Brokers. FSCO has
also confirmed that Capital United Brokers is not a licensed insurance
broker with the Registered Insurance Brokers of Ontario (RIBO).
This scam is similar to a previous scam involving "Gina" that FSCO
issued a warning about (see Royal Insurance Company and Stock Exchange Insurance). Consumers should exercise caution if they are contacted by anyone
matching this description.
If consumers purchase items or insurance from agents or insurers that
are not licensed in the province, they are not protected under the Insurance Act and the regulations that govern Ontario's licensed insurance companies
An Ontario insurance agent or broker can provide information and advice
on the risks involved with purchasing different insurance products.
FSCO's website contains a list of all insurance companies and agents licensed to do business in Ontario. RIBO's website contains a list of all brokers licensed to do business in Ontario.
SOURCE: Financial Services Commission of Ontario
For further information:
What to Do If You Think You are a Victim of a Scam or Fraud