Co-operators warning consumers about bogus policies

The Co-operators is warning that individuals may be selling fake auto insurance policies in New Brunswick and falsely claiming to represent the insurer.The policies are not valid and the individuals selling them do not hold licenses or represent the company, notes a statement from The Co-operators.The company says it is working with the RCMP to investigate the problem, and says anyone who is concerned about the validity of their insurance can contact their local Co-operators agent.In the statement, the insurer gives some tips on determining if their coverage is legitimate, including the requirement for policyholders to complete an insurance application. Also, legitimate insurers do not require consumers to pay cash for policies. Another move used by fraudsters is to ask insureds to sign over their vehicle registration to a third party, a request legitimate insurers would never make.The statement also gives a description of what a valid insurance “pink slip” looks like.