FSCO warns of unlicensed broker, individual selling insurance

The Financial Services Commission of Ontario (FSCO) has issued a warning to consumers that Capital United Brokers, and an individual called “Gina” claiming to represent the company, are not licensed to do insurance business in the province.

 Following a referral, consumers contacted “Gina” directly by phone at 601-990-6303, and at 276-415-6028, according to FSCO. The individual claimed to work for Capital United Brokers, the regulator said.

One consumer received a “pink slip” insurance card listing the Dominion of Canada General Insurance Company, and “Cynthia White” as the selling agent, FSCO said.   The Dominion has confirmed to FSCO that it has no association or affiliation with these individuals or Capital United Brokers. FSCO has also confirmed that Capital United Brokers is not a licensed insurance broker with the Registered Insurance Brokers of Ontario (RIBO).   This scam is similar to a previous scam involving “Gina” that FSCO issued a warning about in the summer that  Royal Insurance Company and Stock Exchange Insurance are not licensed to do business in Ontario.