The Insurance Council of British Columbia (ICoBC) has published a recent case, wherein it fines Pierre Timothy Tang $500. This is half of the baseline amount typically levied in such cases, for having insufficient continuing education (CE) credits for one year. Tang did not request a hearing. The regulator notes his cooperation with the council’s investigation as a mitigating factor in the case affecting the financial penalty imposed.
Tang was also ordered to complete the Insurance Council Rules Course for Life and/or Accident & Sickness Insurance Agents and the Continuing Education Requirements & Guidelines course before December 22.
“The licensee acknowledged the breaches contained within the investigation report and accepted responsibility for his conduct. The licensee agreed that remedial action was necessary,” the intended decision in the case states.
The breach was discovered during an audit based on Tang’s license renewal declaration, which was incomplete. “As part of the audit, council staff asked the licensee to provide CE records for the license period,” they add. During the investigation, Tang told the council that he did not have a valid excuse, but that he became busy and was unable to meet the CE requirements. “The licensee acknowledged the misconduct,” the decision states. “The licensee understood and accepted that council would make a determination on misconduct without requiring additional submissions.”
Licensed since April 2014, Tang also advised the council that he was attending weekly webinars in an effort to make up the CE credits. “Council did not identify any aggravating factors.”
