Consumers beware: Glendale Financial Group is not licensed to conduct insurance business in Ontario

Ontario’s financial services regulator, FSRA, is warning consumers that Glendale Financial Group Ltd. (“Glendale Financial”) is not licensed to conduct insurance business in the province.

Glendale Financial is believed to be a personal loan broker operating out of the Greater Toronto and Hamilton Area.

We recommend consumers avoid purchasing insurance, including loan insurance, from Glendale Financial. There are potential risks.

Consumers are not protected under the Insurance Act when purchasing insurance from unlicensed individuals and/or companies. If you purchase insurance from unlicensed individuals, you have no assurance the policy is valid, which can result in claims not being covered.

Glendale Financial advertises its services online and appears to be using the following contact information:

Glendale Financial is known to offer personal loans to consumers on the condition that consumers first purchase loan insurance from Glendale. The loan insurance is described as a “Basic Coverage Policy.”

Allegedly in one instance, a consumer was asked to pay loan insurance premiums before receiving their loan. Following the loan insurance premium payment, the loan was not granted, and the loan insurance premium was not returned.

Check FSRA’s website to make an informed choice when working with an Ontario insurance agent or insurer. In addition, see the Registered Insurance Brokers of Ontario’s (RIBO) website for a list of all RIBO-licensed insurance brokers.

A FSRA-licensed insurance agent or a RIBO-licensed insurance broker can provide appropriate advice and recommendations on insurance products and tips to avoid insurance sales scams.


For media inquiries:
Ashley Legassic
Acting Sr. Manager, Media Relations
Financial Services Regulatory Authority
C: 647-719-8426
Email: [email protected]

For public inquiries: 
Toll free: 1-800-668-0128 
Email: [email protected]