Clarification: The Financial Services Commission of Ontario (FSCO) obtained new information clearing Jenny Liauba of any involvement in the activities described below. FSCO issued a revised order excluding her name on May 19, 2013.
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The Financial Services Commission of Ontario (FSCO) has issued a cease-and-desist order against a couple of firms and individuals, ordering them to stop soliciting insurance business.
FSCO announced that the superintendent of financial institutions has ordered Premiere Insurance Solutions, 1791126 Ontario Inc., Jermaine Jones and Jenny Liauba, to stop holding themselves out as insurance agents, offering insurance, and advertising, soliciting, and collecting payments for insurance.
The regulator issued a notice of proposed cease and desist order, and an interim order, back on December 19, 2012, the respondents were served with the notice on December 27; but, they did not request a hearing before the Financial Services Tribunal within the time allowed, it notes. The superintendent can issue such an order when they suspect unfair or deceptive acts or practices.
In its interim order, FSCO reported that Liauba recently arranged for radio advertising the public to contact Premiere Insurance Solutions, an unincorporated firm, in order to get affordable car insurance. It says the firm obtained temporary auto insurance for members of the public using false personal information, and led its customers to believe that it had obtained viable insurance.
However, it says the temporary insurance was cancelled by the insurers once it became clear the applications included false information, leaving the customer without car insurance and without the premiums they paid for that coverage. None of the respondents are licenced, it reports. “Their activities in connection with Premiere contravene the Insurance Act and place the public at risk of being misled into paying premiums for car insurance that does not exist,” it says.
The allegations have not been proven.