The Financial Services Commission of Ontario issued a warning about possible unlicensed auto insurance sales.

The regulator announced that during a recently completed investigation, it discovered that unlicensed entities known as Smart Switch and Amicable Insurance Company may have been involved in the sale of automobile insurance products through advertisements placed in Ontario newspapers. “These entities are not licensed to carry on the business of insurance and are not registered business entities,” it says.

“The advertisements that appeared in local newspapers enticed consumers by offering six months free automobile insurance and up to 50% savings compared to current rates. Consumers were invited to call a phone number in the 416 area code. In some cases, stolen credit cards were used to pay for the advertisements,” FSCO says.

These entities are under investigation. No allegations have been proven.