Public Alert - Unlicensed Entity Selling False Insurance
TORONTO, June 5, 2014 /CNW/ - The Financial Services Commission of
Ontario (FSCO) is warning consumers that an organization known as
Strategy Insurance Limited is not licensed to do insurance business in
This entity appears to have issued a fraudulent insurance policy to an
individual against any amounts owed to the Canada Revenue Agency,
following the individual's donation to a charity.
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. 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:
Media inquiries: Kristen Rose, Phone: 416-226-7803, Email: Kristen.email@example.com; Public inquiries 1-800-668-0128 firstname.lastname@example.org