Financial Services Regulatory Authority of Ontario warns consumers to avoid unlicensed insurance seller Wangro Antoun

The Financial Services Regulatory Authority of Ontario (FSRA) issued a consumer warning that Wangro Antoun, operating in the Greater Toronto Area and Windsor, is not licensed to conduct insurance business in Ontario and should be avoided for insurance purchases, including auto insurance. FSRA said consumers who buy insurance from unlicensed individuals or companies are not protected under the Insurance Act. Antoun, also known as Yasser Antoun, is reportedly misrepresenting himself as an insurance broker, allegedly offering discounted auto insurance premiums; FSRA cited an instance where an auto policy was issued in Antoun’s name even though he did not own the vehicle listed on the policy, and noted consumers have sent e-transfers believing they were paying a legitimate broker. FSRA highlighted risks including no assurance a policy is valid, potential voiding or cancellation for misrepresentation, and knock-on effects on insurance history that can increase costs, and advised consumers to verify licensing via FSRA’s website and the Registered Insurance Brokers of Ontario’s broker registry.