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The Financial Services Commission of Ontario (FSCO) has issued an advisory, warning consumers that Kawai Ho is not licensed to conduct insurance business in the province.
According to the FSCO, Ho appears to be soliciting auto insurance through Desjardins Insurance, without being licensed to do so by the commission. The FSCO also warned that Ho is not even affiliated or associated with Desjardins Insurance.
The commission has advised that consumers should exercise caution if they are contacted by Ho or anyone else from his place of business. The FSCO has also cautioned consumers not to obtain insurance products though him.
“Consumers who purchase items or insurance from individuals or entities that are not licensed as agents or insurers in Ontario are not protected under the Insurance Act and the regulations that govern Ontario's licensed insurance companies and agents,” the FSCO said in its statement.
Licensed insurance agents or brokers in Ontario can offer information and advice on both the benefits and risks involved with purchasing insurance, the FSCO reminded. The commission added that consumers are encouraged to check its website to confirm if their insurance agent or company is licensed.
Consumers can also check the Registered Insurance Brokers of Ontario (RIBO)'s website for a list of licensed brokers in the province.
