The Financial Services Commission of Ontario (FSCO) is warning consumers that Vilay Salha Insurance Agency Ltd. is not licensed to do insurance business in Ontario.
This company appears to be involved in a fraudulent insurance card scam.
If consumers purchase insurance from insurers that are not licensed in the province, they are not protected under the Insurance Act and the regulations that govern Ontario’s licensed insurance companies and agents.
Consumers should also be aware that licensed insurance agents and brokers do not charge a fee for arranging personal automobile insurance.
In late April, FSCO warned of the prevalence of the fraudulent insurance card scam. Read more about it here.