May 9, 2012
The Financial Services Commission of Ontario (FSCO) is warning consumers that Premiere Insurance Solutions Inc. (www.onlygreatrates.com) is not licensed to do insurance business in Ontario.
Premiere Insurance Solutions Inc. advertised its services on Kijiji, a free local classifieds website.
This company is not affiliated or associated with Premier Financial Group Incorporated or Premier Financial Planning Services Inc., two insurance agencies licensed by FSCO.
If consumers purchase insurance from insurers 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.
Consumers should also be aware that licensed insurance agents and brokers do not charge a fee for arranging personal automobile insurance.
An Ontario insurance agent or broker can provide information and advice on the risks involved with purchasing different insurance products.