In a consensual agreement and undertaking between Antonie Du Plessis and the market practices committee of the Life Insurance Council of Saskatchewan, Du Plessis admits, acknowledges and agrees that he is guilty of misconduct by violating the council’s by-laws.
His transgression – failing to immediately notify the life insurance council when he failed to maintain the prescribed financial security requirements (errors and omissions insurance providing $2-million in coverage for all occurrences taking place within the year, or a bond of $20,000) – means he also further violated by-laws related to professional misconduct.
For both violations, the insurance council fined Du Plessis $300 and ordered him to pay costs in the amount of $440 within 30 days of the Jan. 4 decision.
