The Life Insurance Council of Manitoba is fining former agent, Jory Micahel Lamb, $5,000 and assessed investigation costs, also in the amount of $5,000, after it was found that Lamb submitted at least eight accident and sickness (A&S) insurance applications containing falsified client information.
Lamb is also being sanctioned for failing to respond to the council during the course of its investigation into his conduct.
An A&S agent from July 2012 until May 2023, the council received two termination notices from the same insurer, saying Lamb had been terminated for cause after he submitted multiple applications for non-existent clients.
Of the eight applications reviewed, six had invalid banking information that was nearly identical, seven had invalid or unallocated phone numbers (the eighth phone number answered but the person answering the phone had no idea who the applicant in question was), five had mailing addresses which could not be verified and all had emails addresses that appeared to be fake. “In addition, several applications were digitally signed from the same IP address, traced by the insurer to a location in Brandon, Manitoba, reportedly linked to the former licensee’s temporary residence,” the decision in the case states.
Originally flagged by the insurer for having a second month persistency rate around 10 per cent (persistency rate being the percentage of policies submitted but not successfully billed), Lamb was also accused of not returning any calls or emails, and would not make himself available for an interview with the insurer’s investigator – a pattern which continued when the council attempted to make contact.
The insurer’s position was that Lamb used false emails to receive company-generated personal identification numbers or PINs to digitally sign the applications.
“The former licensee’s actions indicate a clear and intentional pattern of deceit, intended to obtain compensation from the insurer through the submission of fraudulent applications,” the decision concludes.
