Financial services commission in NB launches new web resource for insurance questions, fraud prevention

The Financial and Consumer Services Commission in New Brunswick has launched a new web resource to help answer common questions related to the insurance industry and financial sector and provide tips for avoiding fraud.

The online public awareness campaign is the first that the commission has launched, and is focused on five questions that relate to each of the sectors that it regulates:

• Can you withdraw the balance of your pension account if you become disabled?
• Where can you check to see if your insurance agent is licensed?
• When does a gift card typically expire?
• Are deposits in New Brunswick Credit Unions insured?
• Do you know how to check whether a securities salesperson is registered?

The website provides the answers to these questions and to other issues such as avoiding buyer’s remorse, dealing with door-to-door sellers, the 30-day myth on returns, an explanation of different types of insurance, and how to avoid fraud.  

Related: New Brunswick’s consolidated financial services commission begins operation

“We want New Brunswickers to find answers to the questions that will help protect them from fraud and provide them with information to make informed financial decisions,” Rick Hancox, chief executive officer of the FCNB noted in a statement. “We regulate a broad range of activity and we have a mandate to educate the public about these sectors.”