Carelessness leads to fine for BC life agent

The Insurance Council of British Columbia fined life accident and sickness insurance agent, Kamna Suri, $1,000 plus costs of $1,543.75 after it was determined that the agent did not conduct business in a competent manner, failed to conduct a written needs analysis, failed to provide accurate information on an application and failed to properly document her conversations.

The investigation into Suri’s conduct began when a client accused her of processing an insurance policy contrary to the client’s instructions, and failed to deliver that policy to the client. The insurance council found that both allegations were unsubstantiated.

Licensed with the Insurance Council since September 2013, council received the complaint in March 2019 that the licensee had facilitated the issuance of a new policy in addition to the client’s older policy, instead of replacing the older policy. The client claims she discovered the second policy two years later.

Although Suri maintains that the complainant’s version of events is false, and Council was inclined to agree in several cases, during the Council’s investigation it was determined that Suri did not complete a financial needs analysis for the client, inaccurately reported the complainant’s income and inadvertently made use of an inaccurate illustration from another client file in selling the policy.

“Council found that, more likely than not, the complainant wanted policy two as an addition to policy one. That being said, Council agreed that the licensee’s notes with regard to her discussions with the complainant were woefully inadequate,” they write. “With regard to the wrong illustration being sent to the complainant for the critical illness and disability policy in 2015, Council concluded that this was carelessness and a breach of the other client’s privacy.”

Later in the decision the Council adds that “Council believed the licensee did not act with ill intent or fraudulent purpose. Rather, council found that the licensee’s conduct was careless.”

In addition to the fines and costs imposed, Suri must also be supervised for six months and must complete the Council Rules Course and an ethics course, to be determined and approved by Council.