The Life Insurance Council of the Alberta Insurance Council has ordered a civil penalty in the amount of $750 against agent Ronald Balachandra, for declaring the completion of continuing education (CE) courses which had not been completed.
The shortfall was discovered during the council’s annual CE audit after a formal demand for information was sent to the agent in March 2022.
During an exchange of emails with the council, Balachandra provided duplicate information and included information for a course he did not complete. The agent told the insurance council that there were course certificates he could not locate as he was “trying to recover from a previous computer.”
When the council contacted the course providers listed when Balachandra responded to the demand for information, one stated that some of the dates provided appeared to be duplicates, while another confirmed that he did not appear on the attendance sheet for another CE course declared. Without the courses, Balachandra was short one accident and sickness credit for the July 2020 – June 2021 licensing renewal period.
“As an insurance intermediary, the agent is required to complete applications on behalf of clients,” the Alberta council states in its decision. “As such, it is required that a high level of accuracy and due diligence be exercised by the agent when completing his own applications.”
