September 19, 2012
The Financial Services Commission of Ontario (FSCO) is warning consumers that Jermaine Nathaniel Jones and Abdoul-Karim Traore are not licensed to do insurance business in Ontario.
These individuals claimed to sell auto insurance on behalf of TD Home and Auto Insurance Company. They attended car lots, and through various means, advertised that they were insurance brokers.
TD Home and Auto Insurance Company, an insurance company that is licensed by FSCO, has confirmed that it is not affiliated or associated with either of these individuals.
If consumers purchase insurance from agents 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 and agents.
An Ontario insurance broker can provide information and advice on the risks involved with purchasing different insurance products. 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