The Financial and Consumer Services Commission of New Brunswick (Commission) is warning New Brunswickers about Assureway Protection Corporation.
This warning comes after complaints from New Brunswickers and a recent warning by Ontario’s Financial Services Regulatory Authority (FSRA).
The Consumer Advocate for Insurance in New Brunswick has contacted the Commission after hearing from New Brunswickers who say they are having difficulty contacting Assureway about insurance products they already paid for.
FSRA has also issued a public warning about Assureway’s activities in Ontario. According to FSRA, Assureway has been selling Guaranteed Asset Protection (GAP) insurance to people buying new and used vehicles. In some cases, Assureway GAP products name an insurance company even though no licensed insurer issued the policy.
What New Brunswickers should know
Assureway acts as a third-party administrator, and not as a licensed insurer or insurance agent. Third-party administrators are commonly used to design and manage financial and insurance products. Third-party administrators do not insure vehicles and do not pay claims. Typically, they review claims and instruct the insurance company to pay them if the claim is valid.
Any individual or company that sells, advises or recommends insurance products in New Brunswick must be licensed with the Commission.
Some dealerships in New Brunswick may have engaged Assureway as a third-party administrator in their provision of GAP insurance to New Brunswickers as part of their vehicle purchase. GAP insurance is meant to help if your vehicle is stolen, written off or badly damaged. It covers the difference between what you still owe on your car loan and what your vehicle is worth at the time of the loss. GAP insurance is optional. In New Brunswick, automobile dealerships that sell insurance products, including GAP insurance, must be licensed with the Commission. The insurance companies that provide this coverage must also be licensed.
Further, it appears that Assureway Protection Corporation was dissolved by the federal government on June 25, 2025, for failing to meet legal requirements. Because of this, if you purchased a product linked to Assureway, you may have trouble contacting the company, getting information or having claims or services processed.
What New Brunswickers can do to protect themselves
The Commission is urging people to:
- Avoid buying GAP or similar products from Assureway (whose head office is listed in Toronto) or anyone selling on its behalf. Assureway has also marketed itself using AssureWay.
- Be cautious if contacted to sell or service an Assureway product.
- Ask questions and avoid high-pressure sales tactics regarding GAP insurance.
- Keep copies of all contracts, receipts and related insurance documents.
- If you purchased GAP insurance through Assureway, you may no longer have this coverage. You should reach out to a licensed insurance agent if you want to maintain GAP coverage.
- Before deciding which insurance company and insurance intermediary to work with, check the Commission’s insurance licence databases or email insurance.licensing@fcnb.ca to confirm that the Commission has licensed the insurance company and the insurance intermediary to do business in New Brunswick.
Consumers who have purchased an Assureway product and can’t reach the company, or who believe something may be wrong, are encouraged to file a complaint with the Commission. While the Commission cannot recover membership fees, premiums, issue refunds or secure claim payments, it can use the complaints to understand the impact of Assureway’s unlicensed activities in New Brunswick.
Please note
This alert only applies to the company Assureway Protection Corporation (with head office listed in Toronto) and should not be confused with licensed entities using “Assure” in their name, such as AssureAway, or others.
For more information on buying insurance from lenders, dealerships and other merchants, visit our website to learn more.