On Jan. 26, the Autorité des marchés financiers (AMF) announced that it has reached an agreement with Canada Pet Health Insurance Services (CPHISI). The company will pay an administrative penalty of $20,000.
CPHSI, formerly known as Trupanion Broker Ontario, admitted that it acted in Quebec as a P&C insurance firm even though it was not registered with the AMF for this purpose.
CPHSI also admitted that it offered its Québec customers claims adjustment services without being registered in this capacity with the AMF.
When these transactions took place, CPHSI was registered with the Registered Insurance Brokers of Ontario (RIBO). The firm took steps to correct the situation as soon as the irregularity was discovered. CPHSI is now registered in the AMF’s damage insurance and claims adjustment sectors.
