The Financial Services Regulatory Authority of Ontario has imposed administrative penalties totaling CAD 37,500 and issued compliance orders against 24/7 Auto Collision Inc., 2551662 Ontario Inc., and Altaf Hussain. The orders restrict the three parties from engaging in the business of insurance and follow findings that they engaged in an unfair or deceptive act or practice in connection with insurance claims. FSRA imposed penalties of CAD 15,000 on 24/7 Auto Collision Inc., CAD 2,500 on 2551662 Ontario Inc., and CAD 20,000 on Hussain. The misconduct involved charging for goods or services connected to a claim under a contract of insurance that were either not provided to a claimant or were provided in a substantially deficient manner, contrary to section 439 of the Insurance Act. None of the respondents requested a hearing before the Financial Services Tribunal to contest FSRA's proposal.
Financial Services Regulatory Authority of Ontario2026-06-01
Financial Services Regulatory Authority of Ontario imposes CAD 37500 in penalties and insurance business restrictions for unfair claims billing
The Financial Services Regulatory Authority of Ontario imposed CAD 37,500 in administrative penalties and issued compliance orders against 24/7 Auto Collision Inc., 2551662 Ontario Inc., and Altaf Hussain, restricting them from engaging in the business of insurance. FSRA found they engaged in unfair or deceptive acts or practices by charging for insurance-claim-related goods or services that were not provided or were substantially deficient, contrary to section 439 of the Insurance Act. The respondents did not request a hearing before the Financial Services Tribunal.