Former life, accident and sickness insurance agent, Mary Grace Toribio, will pay a $200 civil penalty after agreeing to a statement of facts and joint submission with the Alberta Insurance Council (AIC).
According to the statement, Toribio answered “yes” when asked if she was engaged in any business or occupation other than the insurance business, on her most recent application to renew her certificates of authority for life and accident and sickness insurance in June 2019. The former agent also provided the name of a company, the title of her position and her January 2009 start date.
A subsequent review of her earlier applications then revealed that she did not declare this other occupation as required, on at least five earlier occasions. Toribio stated that she did not disclose her other occupation because she had already provided disclosure on a previous application. The AIC says in each instance, from June 2014 to June 2019, Toribio answered no when asked if she was engaged with any business or occupation other than insurance.
