The Financial Services Regulatory Authority of Ontario (FSRA) has imposed compliance orders against Assureway Protection Corporation and its sole officer and director, Shiraz Hussain, for breaches of Ontario’s Insurance Act. FSRA found that the firm and Hussain carried on business as an insurer or engaged in the business of insurance without a licence, contrary to section 40(2), and engaged in an unfair or deceptive act or practice, contrary to section 439, as prescribed under section 8 of Authority Rule 2020-002. The orders were issued after Assureway Protection and Hussain did not request a hearing or contest FSRA’s proposal.
Financial Services Regulatory Authority of Ontario 2026-04-16
Financial Services Regulatory Authority of Ontario issues compliance orders against Assureway Protection Corporation and Shiraz Hussain for unlicensed insurance activity and deceptive practices
The Financial Services Regulatory Authority of Ontario has issued compliance orders against Assureway Protection Corporation and its sole officer and director, Shiraz Hussain, for breaches of Ontario’s Insurance Act. FSRA found they conducted insurance business without a licence under section 40(2) and engaged in an unfair or deceptive act or practice under section 439, with the orders finalized after they did not request a hearing or contest FSRA’s proposal.