December 23, 2014
The Financial Services Commission of Ontario (FSCO) is warning consumers that an individual known as Kostyantyn Poshtarenko is not licensed to conduct insurance business in Ontario.
This individual appears to be selling false RBC auto insurance in the Toronto area.
Consumers should exercise caution if they are contacted by anyone from the following coordinates:
It should be noted that Mr. Poshtarenko is not affiliated or associated with RBC Insurance Company of Canada, which is licensed by FSCO.
If consumers purchase items or insurance from agents or 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.
FSCO’s website contains a list of all insurance companies and agents licensed to do business in Ontario. 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