FSCO issues warning of auto insurance scam, fake broker ads on Craigslist

The Financial Services Commission of Ontario (FSCO) is warning consumers that CC&B Group Inc. and Serafattin Solak are not licensed to do insurance business in the province and are connected to a fake auto insurance scam.

Solak (also goes by the name “George”) is “soliciting insurance business through ads on Craigslist and is misrepresenting himself as an insurance broker,” according to FSCO.

“Consumers who responded to these Craigslist ads were directed to pay their premium in cash and provide additional payment by personal cheque to Mr. Solak,” the regulator said. “Consumers then received fake pink slips that listed CC&B Group Inc. and Jevco Insurance Company as their insurers.” 

The CG & B Group Inc., a legitimate brokerage registered by the Registered Insurance Brokers of Ontario, has confirmed to FSCO that it is not affiliated or associated with Solak or this scam.

Jevco Insurance Company is also not affiliated or associated with Solak or this scam, FSCO noted.

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.

The Registered Insurance Brokers of Ontario (RIBO)’s website contains a list of all brokers licensed to do business in Ontario.