Broker who defrauded consumers agrees not to pursue licensing again in Ontario

A Registered Insurance Brokers of Ontario (RIBO) disciplinary committee has accepted a joint submission under which Josephine Bourre undertakes to never again seek registration as an insurance broker with RIBO again in the future, after the broker was found to have been defrauding clients for years.

“The panel would have expected to see a substantial fine levied for this conduct, however, the panel is mindful of the mitigating factors (Bourre’s cooperation) and the high bar set by the Supreme Court of Canada in R. v. Anthony-Cook to reject a joint submission,” the decision and reasons document in the case states.

The criminal law sentencing case cited sets out the legal test trial judges should apply in deciding whether it is appropriate in a particular case to depart from a joint submission.

In February 2022, Bourre’s agency complained to RIBO noting that the broker had received email transfers of premiums payments from clients and deposited those funds into her personal bank account without placing coverage for the clients.

“The complaint was investigated by a RIBO investigator. During the course of the investigation Ms. Bourre admitted to the allegations against her,” the decision states.

Discovered when one of her clients contacted their insurer regarding their coverage in January 2022, it was found that the client had been transferring Bourre money on a monthly basis since January 2019 in exchange for fake temporary liability slips. “There was no coverage,” the decision adds.

Over the course of the RIBO investigation, Bourre admitted that she collected premiums from a number of clients and deposited funds into her personal bank accounts before providing clients with false liability slips.

“Based on the agreed statement of facts, Ms. Bourre defrauded clients by taking money into her personal account and issuing fraudulent liability slips where no insurance existed. While there was no evidence in this case of uninsured losses, her clients were left completely unprotected and their assets were at risk,” the decision and reasons note. “The panel accepted Ms. Bourre’s undertaking to never again seek registration with RIBO as an insurance broker.”

First licensed in May 2006, Bourre’s registration had already lapsed in October 2022 for non-renewal and non-payment of fees.