Public Alert - Online Advertisements for Insurance Consulting
TORONTO, July 31, 2013 /CNW/ - The Financial Services Commission of
Ontario (FSCO) is warning consumers that a company named The Insurance
Wizard, and an individual called "Wayne" claiming to represent The
Insurance Wizard, are not licensed to do insurance business in Ontario.
The company has placed ads on www.kijiji.ca. The ads ask consumers to
contact the following phone number: 647-760-7365. Once contacted, the
individual claims to charge a $350 fee to pass consumers over to an
Consumers should exercise caution if they are contacted by anyone from
If consumers purchase 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
FSCO's website contains a list of all insurance companies and agents licensed to do business in Ontario, as well as tips on avoiding auto insurance sales scams.
An Ontario insurance agent or broker can provide information and advice
on the risks involved with purchasing different insurance products. The
Registered Insurance Brokers of Ontario (RIBO)'s website contains a list of all brokers licensed to do business in Ontario.
What to Do If You Think You are a Victim of a Scam or Fraud
SOURCE: Financial Services Commission of Ontario
For further information: