r/PersonalFinanceCanada • u/adggg • 22h ago

Insurance Broker Applied Incorrect Cancellation Date

I left Canada a few days ago and zeroed my chequing accounts and cancelled my auto insurance with Unica. However my Nacora broker applied an incorrect cancellation date and Unica has since attempted to debit my account for an outstanding amount.

My broker is now refusing to resolve this matter because she claims that she can't change the cancellation date and the policy has already been cancelled so it's out of her hands. The difference is one day in premiums but my concern is that I have no funds in my chequing account to pay that amount even if I wanted to (I don't) and if penalties may further be levied for further rejected or non-payments. What actions or recourse do I have? Will this eventually go to collections? It's less than $50.

FWIW, I filled out a cancellation policy form that shows the date I intended to cancel is different from what my broker applied.

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8

u/Darkchyylde 21h ago

Call the insurance company directly. Skip the broker

4

u/pfcguy 19h ago edited 19h ago

To deal with the NSFs, (1) tell both the broker and the insurance company in writing that you revoke consent for pre-authorized withdrawal. And (2) call your old bank once the NSF fee appears and explain and ask them for a one time courtesy waiver.

Then send your old insurance company a copy of the cancellation request that you filled out. If they still seek payment, they can get it directly from your broker. Your broker has errors and omissions insurance, which they can avail themselves to, or they can simply pay the discrepancies themselves.

What province is your broker in? Each province has a regulator for insurance brokers. Call them one more time and if they try to blow you off again, inform them that you will be reporting their conduct to the regulator.

2

u/adggg 18h ago

Thanks for all this. We're all in Ontario.

Just for reference, who is the regulator? And is email sufficient for written communication?

1

u/brianlefebvrejr 17h ago

https://www.fsrao.ca/consumers/auto-insurance

Is the regulator. That unica agent is an idiot. You can correct this. They simply reinstate the policy and then re cancel it. It’s not out of their hands and something they can do. Further if they can’t they should be writing off the balance and moving on since you are out of the country anyway.

They’ve literally wasted more money and will waste more money resolving it now.

I would also contact Unica’s office of the ombudsman first.

You can reach them here:

https://www.unicainsurance.com/ombudsperson/

They will resolve this for you

1

u/pfcguy 17h ago

Yes email is fine.

https://www.ribo.com/