Flooding Fixes: FSRA allowing licensed adjusting firms to use claims adjusters licensed outside of Ontario as response to recent Toronto flash-flooding
Toronto, Ontario — The Financial Services Regulatory Authority of Ontario (FSRA) has implemented temporary measures to allow claims adjusters to process insurance claims more quickly, following flash floods that affected the Toronto area last week. Specifically, the FSRA is temporarily allowing licensed adjusting firms to use claims adjusters licensed outside of Ontario. The FSRA is […]
Fraudulent Findings: FSRA imposes administrative penalties and compliance order against McLaren and Fardy Warda
Toronto, Ontario – The Financial Services Regulatory Authority of Ontario (FSRA) has recently imposed a compliance order and an order imposing administrative penalties of $75,000 on McLaren Collision and $15,000 on Fardy Warda. The compliance order is the result of fraudulent insurance charging performed by both parties. Specifically, McLaren Collision charged an insurer for repairs […]
Rate Daze: Auto insurance rating systems becoming complex beyond understanding, lawyer says
Toronto, Ontario — The current Canadian auto insurance rating system is so complex, a lawyer who recently spoke at a recent insurance industry event said that “There are concerns that these systems will be so complex over time that we don’t understand them.” Carole Piovesan, co-founder of data law and consulting firms INQ Law and […]
No Longer Hidden: FSRA warning consumers Hidden Ace Brokerage is not licensed to conduct insurance business in Ontario
Toronto, Ontario —It has come to FSRA’s attention that Hidden Ace Brokerage is conducting an auto insurance business without a licence to sell. The Financial Services Regulatory Authority of Ontario (FSRA) is warning consumers that Hidden Ace Brokerage is not licensed by the Registered Insurance Brokers of Ontario (RIBO) and is not licensed as […]
