An agent licensed since January 2011 has been ordered to complete the (British Columbia) Council Rules Course for Life and/or Accident & Sickness Insurance Agents and a continuing education requirements and guidelines course, after an audit revealed the agent was short 10 continuing education (CE) credits during the 2024-2025 licensing period.
The Insurance Council of British Columbia also ordered Michael Victor Favaro to pay a fine of $500. “The licensee agreed that remedial action was necessary,” the intended decision in the case states. This acceptance was later noted as a mitigating factor in the case.
The June 2025 audit asked Favaro to demonstrate that he had obtained the 15 CE credits required for the licensing period. When it was found that he was short 10 credits, the agent proactively completed the credits in June and July that year.
“The licensee confirmed that he would incorporate professional development activities into his calendar to ensure future compliance,” the intended decision states, adding that providing a timely response to the council’s auditors was also noted as a mitigating factor. “Council did not identify any aggravating factors,” they write.
