Released on December 15, 2008
On Friday the Saskatchewan Financial Services Commission (SFSC) issued an order to World Wide Warranty, Inc. of St. Louis, Missouri to cease and desist in their telemarketing activity in Saskatchewan.
World Wide Warranty, also known as Canadian Auto Warranty Services, was calling consumers at home to try to sell them extended warranties on their automobiles saying that their manufacturer's warranty was expiring. Car warranties are considered a form of insurance under law and therefore the vendors of these products must be approved and licenced through the Insurance Councils of Saskatchewan and the SFSC. World Wide Warranty had not either been approved or applied for a licence in Saskatchewan.
"Operations like this threaten the security of the people of this province," Minister responsible for the Saskatchewan Financial Services Commission Don Morgan said. "I am pleased that we have been able to quickly locate the offenders and insist that they comply with our rules and regulations."
A hearing has been scheduled for Monday, December 22, at which time World Wide Warranty, Inc. can plead their case to continue to do business in Saskatchewan.
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For more information, contact:
Laur'Lei Silzer
Justice and Attorney General
Regina
Phone: 306-787-0775
Email: laurlei.silzer@gov.sk.ca
Cell: 306-535-0074