A discipline committee of the Registered Insurance Brokers of Ontario (RIBO) has issued its reasons for suspending Titilayo “Lucia” Owanubi for failing to act with integrity when she submitted false health claims under her employer’s benefits plan. Although the conduct did not involve a client transaction, the RIBO decision and reasons states that “the misconduct was very concerning to the panel given the ethical issues the conduct raised.”
The level 1 broker, registered with RIBO since January 2020, was first reported by her agency after the agency was notified by its group benefits provider that a preliminary investigation revealed that the broker may have submitted false health claims under the company’s group benefits plan.
Ultimately the broker was found to have submitted 39 false claims to the plan between February and June 2024. The insurer verified this by contacting service providers who confirmed they had not provided the services claimed.
All told, Owanubi was paid $4,799.47 for false claims which the insurer demanded repayment for. In November 2024, the broker and the insurer established a re-payment plan.
“The broker fully cooperated with RIBO’s investigation and acknowledged her wrongdoing early in the investigation process,” the decision states. “The licensee’s judgement appeared to be clouded by personal issues, she admitted the conduct early on in the investigation and arranged a re-payment plan to compensate the insurer for claims falsely submitted. This was a mitigating factor considered by the panel.”
In addition to a reprimand, Owanubi was suspended for one month. She was also ordered to complete three hours of RIBO-accredited ethics education, in addition to completing her annual continuing education obligations.
