In a recent decision published by the Insurance Council of British Columbia, the regulator declined to assess investigation costs and fined William Edward Elliott just $500 for having insufficient continuing education (CE) completed for the 2023-2024 licensing period.
The council, in its decision, noted several mitigating factors in the case, namely that Elliott acknowledged the breaches, completed additional CE once the shortfall was discovered, accepted that remedial action was warranted in the case and fully cooperated, providing fulsome responses in a timely manner. “Council did not identify any aggravating factors,” they state. “Given the significant mitigating factors, council concluded that a lower penalty is warranted.”
They also note that Elliott’s full cooperation and assistance in expediting the investigation process were important factors to consider when determining if costs should be assessed.
Elliott failed to meet the CE requirement after completing a practice exam instead of the designated final exam for a course. “When the licensee realized that he had not obtained CE credits from the practice exam, he wrote the final exam to obtain the CE credits,” the intended decision in the case states.
In addition to the fine, Elliott must complete two courses, the Insurance Council Rules for General Insurance Agents, Salespersons and Adjusters and the Continuing Education Requirements & Guidelines course by October 2025.
