General Insurance Council of Saskatchewan fines firm $16,000By The IJ Staff | August 29 2019 11:30AM
The Insurance Councils of Saskatchewan published a Consensual Agreement and Undertaking between its complaints and investigation committee and Percy Hunt Travel Group Inc.
According the council’s documents, Percy Hunt acknowledges and agrees that it violated council bylaws and acted contrary to the best interests of consumers, licensees and insurance companies and violated sections of the province’s Insurance Act which prohibit firms from appointing or paying unlicensed agents. Documents also state that the company failed to follow sound business practices and failed to exercise reasonable and prudent oversight when acting in a supervisory capacity.
Under the agreement Percy Hunt waives its right to appear before a discipline committee. The firm also agreed to pay $16,100 in fines and investigative costs.