FSCO cautions consumers of Freedom Insurance Company

The Financial Services Commission of Ontario (FSCO) is warning consumers that Freedom Insurance Company is not licensed to do insurance business in Ontario.”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,” a FSCO release says.FSCO directs consumers to its website for a list of all insurance companies and agents licensed to do business in Ontario. It also notes that an Ontario insurance agent or broker can provide information and advice on the risks involved with purchasing different insurance products.