Tony Geller and ‘Tony Geller and Associates’ are not licensed to do insurance or mortgage brokering business in Ontario

August 14, 2012

The Financial Services Commission of Ontario (FSCO) is warning consumers that Tony Geller and an affiliated company, Tony Geller and Associates, are not licensed to do insurance or mortgage brokering business in Ontario. This company advertised the sale of cheap auto insurance and low rate mortgages online through the following website: http://www.gellerisbetter.ca. 
 
The Registered Insurance Brokers of Ontario (RIBO) has also published a warning [New Window] about this matter.
 
If consumers purchase insurance from agents or insurers that are not licensed in the province, they are not protected under the Insurance Act [New Window] and the regulations that govern Ontario’s licensed insurance companies and agents.
 
FSCO’s website contains a list of all insurance companies and agents licensed to do business in Ontario as well as tips on avoiding auto insurance sales scams.
 
An Ontario insurance agent or broker can provide information and advice on the risks involved with purchasing different insurance products. The Registered Insurance Brokers of Ontario (RIBO)'s website [New Window] contains a list of all brokers licensed to do business in Ontario
 
Similarly, if consumers arrange a mortgage from a mortgage brokerage, broker or agent that is not licensed in the province, they are not protected under the Mortgage Brokerages, Lenders and Administrators Act, 2006 [New Window] , which holds Ontario’s mortgage brokerages, administrators, brokers and agents to specific standards.
 
FSCO’s website contains a list of all mortgage brokerages, administrators, brokers and agents licensed to do business in Ontario as well as tips on shopping around for a mortgage.
 
A licensed Ontario mortgage brokerage, administrator, broker or agent can provide information and advice on the risks involved in borrowing, lending or investing for different mortgage products. 
 

CONTACT

Public inquiries

1-800-668-0128

Media inquiries

Kristen Rose
416-226-7803
kristen.rose@fsco.gov.on.ca