Warning Notice - Unlicensed Insurance Activity

"Renato (Nico) Nolvis" is not licensed to do insurance business in Ontario

​TORONTO, July 10, 2014 /CNW/ - The Financial Services Commission of Ontario (FSCO) is warning consumers that an individual known as Renato (Nico) Nolvis is not licensed to do insurance business in Ontario.

This individual appears to be selling false auto insurance.

On April 10, 2014, Mr. Nolvis of Mississauga was charged with three counts of fraud under $5,000 uttering a forged document and making a false document.  He also appeared in a Newmarket court on June 12, 2014.

If consumers purchase items or insurance from agents or 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.

An Ontario insurance agent or broker can provide information and advice on the risks involved with purchasing different insurance products, as well as tips on avoiding auto insurance sales scams.

FSCO's website contains a list of all insurance companies and agents licensed to do business in Ontario. The Registered Insurance Brokers of Ontario (RIBO)'s website contains a list of all brokers licensed to do business in Ontario.

ADDITIONAL INFORMATION

What to Do If You Think You are a Victim of a Scam or Fraud

SOURCE: Financial Services Commission of Ontario

Media inquiries: Aisha Silim, Phone: [phone], Email: [email protected]; Public inquiries: 1-800-668-0128, [email protected]