Le Lézard
Classified in: Business
Subject: LAW

FSRA imposes administrative penalties and compliance order against 1843538 Ontario Inc., carrying on business as McLaren Collision, and Fady Warda


TORONTO, Oct. 19, 2023 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA) has imposed a compliance order and an order imposing administrative penalties of $75,000 on McLaren Collision (McLaren) and $15,000 on Fady Warda (Warda).   

The compliance order prohibits McLaren and Warda from engaging in the business of insurance.  They are not allowed to perform work that is reasonably expected to be paid by an insurer or hold themselves out as being able to perform such work. These restrictions apply to McLaren permanently and to Warda for three months.

McLaren charged an insurer for repairs to vehicles that were not done and for parts that were not replaced.  Warda damaged a vehicle taken to McLaren for repair, which allowed McLaren to increase the amount it charged the insurer for repairs and facilitated overcharging.  These are unfair and deceptive acts or practice and contrary to section 439 of the Insurance Act and paragraph 1 of subsection 3(2) of O. Reg. 7/00. 

"FSRA is committed to protecting consumers and ensuring public confidence in the insurance sector", said Elissa Sinha, Director of Litigation and Enforcement at FSRA, "Autobody shops can only charge insurers for work that is needed and performed. FSRA will not tolerate this conduct." 

FSRA issued the orders as a result of a settlement with McLaren and Warda.

Rony Warda and Michael Wetzel were also included in the same Notice of Proposal as McLaren and Warda.  Proceedings are ongoing before the Financial Services Tribunal regarding Rony Warda.  On November 24, 2020, FSRA issued an order regarding Michael Wetzel since he did not request a hearing.

Learn more:

FSRA is working to protect consumers through its monitoring and enforcement activities.

FSRA continues to work on behalf of stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone. Learn more at www.fsrao.ca

FOR MEDIA INQUIRIES:
Russ Courtney
Sr. Media Relations and Digital Officer
Financial Services Regulatory Authority
C: 437-225-8551
Email: [email protected] 

SOURCE Financial Services Regulatory Authority of Ontario


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