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Did Shauna move to Toronto?

Discussion in 'Reality Check' started by C. Mike Hunt, Apr 6, 2021.

  1. C. Mike Hunt

    Well-Known Member

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    https://www.cbc.ca/news/business/insurance-problem-go-public-1.5968105

    Yasmine Sharaf thought she had scored a great deal on car insurance.

    The 48-year-old Toronto mother of three needed a lucky break; she had been laid off from her job as a business analyst last summer due to the COVID-19 pandemic and her husband's salary had been cut by 20 per cent.

    So when a local insurance broker told her she could get a good deal on a policy for the family's two vehicles through Intact Insurance by paying $6,000 upfront to cover the year's premiums, she jumped at the chance.

    "Everyone tries to get the best premium, the lowest payment, because we all have so many bills to pay," she said.

    She used her entire severance payment to cover the expense, topping it up with funds from a line of credit.

    But four months later, Sharaf was stunned to discover Intact had cancelled her policy citing non-payment. She called Aaxel Insurance, the brokerage where she had purchased the coverage. She learned that she had been a victim of fraud, and that although the broker she dealt with at Aaxel had sold her a genuine policy, he has since been accused of pocketing some of the money she paid.
     
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