The New Brunswick Financial and Consumer Services Commission issued a consumer alert warning New Brunswickers about Assureway Protection Corporation following local complaints and a public warning by Ontario’s Financial Services Regulatory Authority (FSRA). The Commission reports that consumers have had difficulty contacting Assureway about insurance products they have already paid for, and notes FSRA’s concern that Assureway has been selling Guaranteed Asset Protection (GAP) insurance for vehicle purchases, including cases where the product named an insurance company even though no licensed insurer issued the policy. The alert states that Assureway acts as a third-party administrator rather than a licensed insurer or insurance agent, and reminds consumers that anyone selling, advising on, or recommending insurance in New Brunswick must be licensed with the Commission. It adds that dealerships selling GAP insurance and the insurance companies providing the coverage must also be licensed in New Brunswick, and indicates Assureway was dissolved by the federal government on June 25, 2025, which may impede access to information, claims processing, or services. The Commission urges consumers to avoid buying GAP or similar products from Assureway or anyone selling on its behalf, retain all documentation, verify licensing status through the Commission’s licence databases, and file a complaint if they cannot reach the company or suspect issues, while noting it cannot recover fees or premiums, issue refunds, or secure claim payments.
New Brunswick Financial & Consumer Services Commission 2026-03-10
New Brunswick Financial and Consumer Services Commission warns consumers about Assureway Protection Corporation and GAP insurance products
The New Brunswick Financial and Consumer Services Commission issued a consumer alert about Assureway Protection Corporation after complaints and a warning by Ontario’s Financial Services Regulatory Authority. Assureway, acting as a third-party administrator, has been selling Guaranteed Asset Protection (GAP) insurance without a licensed insurer and was dissolved by the federal government in June 2025. The Commission advises consumers to avoid purchasing GAP products from Assureway, verify licensing status, and file complaints if issues arise, noting it cannot recover fees or secure claim payments.