Yukon broker under investigation

Investigators from Alberta are probing allegations that a Whitehorse insurance broker stole clients’ money, leaving approximately 30 Yukon Territories Insurance Solutions policyholders dealing without the insurance coverage they paid for, according to Yukon government officials.
The Yukon government’s supervisor of insurance has also suspended the broker’s license.
Recently, after receiving complaints about the brokerage, the territory government took out ads in Whitehorse newspapers advising clients of the Company.
Government officials report the intention to seek out a compensation package for clients who were left without any insurance coverage. However, it’s too early to necessitate criminal investigation intervention.
Government authorities estimate policyholders paid approximately $50,000 for policies that were never registered. Yet, the government says there is not much they can do to help recover the lost money.