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FSCO warns consumers of two unlicensed individuals selling auto insurance
December 6, 2012 by Canadian Underwriter
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The Financial Services Commission of Ontario (FSCO) is warning consumers that two people are not licensed to do insurance business in Ontario.
Lisa Rossi and Sam Soso claimed to sell auto insurance on behalf of Zenith Insurance Company, FSCO said in a statement on its website.
Rossi and Soso directed consumers to pay premiums in cash and in person to an individual named “Jack.”
Zenith Insurance Company, an insurance company that is licensed by FSCO, has confirmed that it is not affiliated or associated with any of these individuals.
The following phone number has been used in relation to this scam: 1-888-915-4430. Consumers should exercise caution if they are asked to contact someone at this number about purchasing insurance.
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I have recently encountered an issue where an insurer approved over 2,600$ in repairs to a front bumper on an 02 Honda Civic. The incident in question was initially deemed to be a non reportable accident. Three estimates were conducted and none came within 1,000 of the 2,600 approved, even when done 2 years later. The 2,600 in repairs was done through a preferred vendor, and only 1 estimate was conducted prior to repairs. This resulted in an array of issues for the other driver, who according to witnesses, could not have even been at fault for the accident.
1) Can the insurance provider not provide more than one estimate when the first estimate is higher than the value of the vehicle?
2) Should the adjuster not take reasonable measures to determine that the initial report is on file, which clearly stated the accident was not reportable?
3) If there is suspected laundering being done by the adjuster, why would a supervisor handle a complaint by sending the file back to the suspected launderer to look further into?