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Important Notice Regarding Assureway Protection and Gap Insurance Products

March 6, 2026
Dealer Bulletins

On Thursday, February 26, 2026, the Financial Services Regulatory Authority (FSRA) issued a notice to the public warning consumers about Assureway Protection Corporation (Assureway) and Guaranteed Asset Protection (GAP) insurance products offered by Assureway.

What Dealers Need to Know

In the notice, FSRA reported that it has identified that Assureway:

  • has been providing GAP products in connection with new and used vehicle purchases
  • is not a licensed insurance company in Ontario
  • is not authorized to engage in the business of insurance in Ontario
  • has issued or marketed products that name an insurer despite no licensed insurer having issued the policy

FSRA cautions that any existing or future policies offered by Assureway or claims associated with such policies may not be honoured.

Consumers have been advised by FSRA not to purchase GAP insurance products from Assureway or from any of its agents or representatives.

Dealer Responsibilities

All registered dealers are required to take reasonable steps to ensure that all products offered or sold or recommended in connection with a vehicle sale are sold in a legally compliant manner.

Mandatory disclosures to consumers required by the legislation must be provided in writing in a clear, comprehensible and prominent manner and must not be misleading.

If your dealership has been involved with the promotion or sale of any Assureway products you are encouraged to review your contractual agreements with the provider and seek independent legal advice about steps that should be taken in light of the information in the FSRA notice.

Consumer Complaints

Consumers may file a complaint with FSRA to help support FSRA’s understanding of the scope and impact of Assureway’s unlicensed activities. Complaints may also influence any regulatory action that FSRA may take. However, FSRA cannot recover premiums, issue refunds, or secure the payment of claims related to Assureway GAP products.

Consumers can file a complaint with FSRA by email at [email protected] or by calling FSRA at 1-800-668-0128.

Consumers with concerns about how the Assureway Protection product was offered or sold at an OMVIC registered dealer can contact OMVIC at 1-800-943-6002.