The Insurance Council of British Columbia has fined Xiao Yan (Celia) Xu $2,000, assessed investigation costs and ordered Xu to complete two remedial training courses after she requested an extension to complete her continuing education (CE) due to a medical condition.
At first, Xu was advised by the regulator’s staff that the council had a CE deferral policy in place which would allow the licensee to defer completion of their CE credits for a maximum of two licensing periods. “Staff later determined that the policy could not apply to the licensee’s situation because the licensee indicated a return to work in other industries and maintained an active authority to represent (ATR). Staff communicated this determination to the licensee by email and requested the licensee submit their CE record.”
Although Xu completed close to 55 credits during the 2021-2022 licensing period (a surplus of nearly 40 credits), during the previous two years she completed only six of the 30 required courses. When Xu requested that the CE requirement be waived, the regulator “responded by reiterating the policy was not available to the licensee because they had returned to work. Active licensees who are capable of working are expected to be capable of completing CE requirements.”
E&O lapsed
During the investigation it was also discovered that Xu had allowed her errors and omissions (E&O) insurance to lapse for six months in 2021 and 2022. Broken down, the monetary sanctions included a $500 penalty for each year Xu failed to obtain enough CE and $1,000 for failing to maintain E&O coverage as required.
In addition to the fines and costs in the amount of $687.50, Xu must also complete the Council Rules Course for life and/or accident and sickness insurance and the Continuing Education Guidelines and Requirements course, both before August 6.
