Kostyantyn Poshtarenko is not licensed to conduct insurance business in Ontario

The Financial Services Regulatory Authority of Ontario (FSRA) is warning consumers that an individual known as Kostyantyn Poshtarenko is not licensed to conduct insurance business in Ontario.

A previous warning notice was published on December 23, 2014.

This individual appears to be selling false auto insurance policies or assisting customers in obtaining false auto insurance policies in the Greater Toronto area.

Consumers should exercise caution if they are contacted by anyone from the following coordinates:

Telephone: 647-829-9025, 647-787-9025

E-mails: [email protected], [email protected], [email protected]

Mr. Poshtarenko is not affiliated or associated with any insurer licensed by FSRA.

Consumers who purchase insurance products from individuals or entities that are not licensed as agents or insurers in Ontario are not protected under the Insurance Act and the regulations that govern Ontario's licensed agents and insurance companies.

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

Consumers can find a list of all insurance companies and agents licensed to do business in Ontario on FSRA’s website.

The Registered Insurance Brokers of Ontario (RIBO)'s website contains a list of all brokers licensed to do business in Ontario. FSRA is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more www.fsrao.ca.

Learn more:

FSRA is continuing to work with those we regulate to ensure financial safety, fairness and choice for consumers and members. Learn more at www.fsrao.ca

For media inquiries:

Alex Kvaskov
Communications Officer
Financial Services Regulatory Authority
C: 437-522-9151
Email: [email protected]