Unlicensed Insurance Sales in OntarioBy Andrew Rickard | June 25 2014 07:15AM
In early June the Financial Services Commission of Ontario (FSCO) issued warnings about an individual known as Frank Domalewski and a company named Strategy Insurance Limited. Neither is licensed to do insurance business in Ontario. The former was fraudulently selling insurance, while the latter was issuing fraudulent insurance policies.
FSCO is telling people to be cautious if they are contacted by anyone matching this description, and in early June the regulator issued a press release reminding consumers that they will not be protected under the provincial Insurance Act if they purchase coverage from agents or insurers that are not licensed.
Aviva Canada has released details of another insurance scam involving an unlicensed insurance salesperson named Renato Nolivos. He took cash from the victim and claimed he was setting up an auto insurance policy, but he did not secure coverage and kept the money. The victim lost thousands of dollars and was left driving without insurance.
Nolivos was charged with three counts of fraud under $5,000, as well as uttering a forged document and making a false document. He is due to appear in court in Newmarket, Ontario on July 10, 2014.