Regarding the Insurance Act, R.S.O. 1990, c. I.8, as amended, in particular section 441
And Regarding Shaun Edwards o/a Safeguard LLC.
Shaun Edwards o/a Safeguard LLC.
4−40 Parma Court
Toronto ON M4A 1A5
On May 22, 2015 the Superintendent issued a Notice of Proposed Compliance Order under subsection 441(2) of the Insurance Act (“the Act”) against Shaun Edwards o/a Safeguard LLC.
The Notice was served on Shaun Edwards o/a Safeguard LLC. on May 27, 2015.
No request for a hearing was made within 15 days of service of the Notice.
Take Notice That the Superintendent has carried out the proposal to issue the Compliance Order pursuant to subsection 441(7) of the Act.
Take Notice That Shaun Edwards o/a Safeguard LLC. and his agents, representatives and successors are ordered, effective immediately, to:
(a) to cease making any written or oral solicitation for insurance in the Province of Ontario;
(b) to cease offering, or assuming to act in the negotiation of insurance in the Province of Ontario;
(c) to cease acting or holding himself out as an insurer, insurance broker or insurance agent in the Province of Ontario;
(d) to deactivate the websites:
- life insurance
- accident and sickness insurance
- auto liability insurance
- auto warranty insurance
- home and tenant insurance
(e) notify in writing all clients that Shaun Edwards o/a Safeguard LLC. and his agents, representatives and successors, can no longer act for them as an insurer, an insurance broker or insurance agent, and provide them with a copy of the Compliance Order, and provide copies of every notification sent to each client to the Superintendent forthwith;
(f) not communicate with existing clients for a purpose related to any written or oral solicitation for insurance or for the negotiation of insurance in the Province of Ontario except for the express purpose of transferring his files and business to a licensed broker, brokerage and/or brokerage.
Take Notice That pursuant to subsections 447(2)(b) and 447(3) of the Act, every person who fails to comply with an order made under this Act is guilty of an offence and every individual convicted of an offence under this Act is liable on a first conviction to a fine of not more than $250,000 and on each subsequent conviction to a fine of not more than $500,000.
Dated at Toronto, Ontario, June 19, 2015.
original signed by "Brian Mills"
Superintendent of Financial Services