Ontario’s insurance regulator has cracked down on two scams recently.
Most recently, the Financial Services Commission of Ontario (FSCO) issued a warning on December 4 that Lisa Rossi and Sam Soso are not licensed to do insurance business in Ontario.
“These individuals claimed to sell auto insurance on behalf of Zenith Insurance Company,” FSCO noted in a public statement. “They 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.”
About a month earlier, FSCO obtained a cease and desist order against First Nation Insurance Group, FNIG Holding Corporation, and Vijaykumar Ramkumar.
The order states that, unless a valid licence is first obtained, Vijaykumar Ramkumar, First Nation Insurance Group and FNIG Holding Corporation must:
• cease undertaking or carrying on the business of insurance in the Province of Ontario;
• cease collecting money or anything else of value from any member of the public, in exchange for assisting in the placement of or placing insurance policies in Ontario of any kind;
• cease soliciting the sale of insurance in any form in Ontario;
• cease advertising insurance in any form in Ontario;
• cease maintaining or operating in Ontario, either in the name of First Nation Insurance Group, FNIG Holding Corporation and Vijaykumar Ramkumar, or in the name of any agent, representative or successor, an office for the transaction of the business of insurance either in or out of Ontario; and
• cease using the corporate or business names First Nation Insurance Group, FNIG, or any other name making express or implicit reference to the term “insurance”, for the transaction of business of any kind in Ontario.
