In a pair of recent decisions, the Alberta Insurance Council (AIC) has fined, in separate cases, one designated representative and one brand new agent, each $1,000 for failing to respond to the regulator’s formal demands for information.

In the first case, Rishi Jaitley is a level 3 agent and designated representative holding a certificate of authority since April 2021. The designated representative first blamed the council for sending the communications to an inaccurate email address, then said he’d been out of the office, and blamed his relatively new assistant for not being familiar with regulatory matters.

“I needed to attend our Calgary office in person to investigate the matter further,” he told the council during the course of its investigation. “I flew to Calgary to inquire of this and other pertinent matters in our Alberta office to ensure appropriate supervision.” 

The council, on the other hand, pointed out that it was the agent’s responsibility to keep the council’s information, including his email address, up to date. (At the time the decision was made, the information had still not been corrected.) 

They also noted that the material was sent to the designated representative’s house by mail. Although the representative promised to follow up in late May 2025, it was not until July that the information was finally submitted. The council says Jaitley’s conduct is “serious in nature.”

Jaitley additionally told the council that the submission needed to be reviewed by management internally, including human resources, before it was issued. “We do not agree with the narrative of this report,” the council’s decision states in multiple places. 

“A designated representative of an insurance agency holds a critical position of responsibility in ensuring the agency’s compliance with regulatory requirements and the supervision of its agents,” the decision continues. “A failure to respond within prescribed timelines undermines the regulator’s ability to perform its oversight function and raises concerns about the individual’s understanding of and commitment to their regulatory obligations.” 

In addition to the $1,000 fine, Jaitley’s certificate of authority with the agency was also suspended for one year. “There are concerns regarding the adequacy of the agency’s supervision,” they write.

In the second case, Andrea Gilchrist, a new agent licensed only four months in 2024, was also fined $1,000 for not responding to any of the council’s inquiries for information about her conduct, following a complaint.

“The public relies on the Alberta Insurance Council to investigate complaints, and the (Insurance) Act requires that all holders and former holders of certificates of authority provide the regulator with information when called upon,” they conclude.