TORONTO, April 16, 2026 /CNW/ - The Financial Services Regulatory Authority of Ontario, FSRA, has imposed compliance orders against Assureway Protection Corporation (Assureway Protection) and its sole officer and director Shiraz Hussain (Hussain).
Assureway Protection and Hussain contravened the Insurance Act, RSO 1990, c. I.8, as amended (the Act) as follows:
- By carrying on business as an insurer or engaging in an act constituting the business of insurance without a licence, contrary to section 40(2) of the Act; and
- By engaging in an unfair or deceptive act or practice, contrary to section 439 of the Act and as prescribed under section 8 of Authority Rule 2020-002.
"FSRA will not tolerate conduct that places consumers at risk or undermines confidence in Ontario's insurance market", said Elissa Sinha, Director of Litigation and Enforcement at FSRA. "This compliance order protects consumers, requires corrective steps, and reinforces that past undertakings and regulatory commitments must be respected."
FSRA issued these orders as Assureway Protection and Hussain did not request a hearing or contest FSRA's proposal.
Learn more:
Access our enforcement database to see how FSRA is working to protect consumers through its monitoring and enforcement activities.
For media inquiries:
Lilian Kim
Sr. Media Relations Officer
Financial Services Regulatory Authority
(416) 617-8513
Email: [email protected]
SOURCE Financial Services Regulatory Authority of Ontario
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