May 1, 2012
The Financial Services Commission of Ontario (FSCO) is warning consumers that Vilay Salha Insurance Agency Ltd. is not licensed to do insurance business in Ontario. This company may have also advertised under the name 1888 Vilay Salha Brokers Ltd.
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.