The Alberta Insurance Council has published two separate decisions involving similar transgressions, both of which ended in monetary penalties for the agents being sanctioned. Specifically, Paige Jassman and Soyab Khan are being sanctioned for failing to provide information to the council when they were served with formal demands for information during the course of separate investigations into complaints made against the agents.
Licensed under a year
In Jassman’s case, the life accident and sickness agent, licensed less than a year, from September 2022 until June 2023 when she resigned her position, was sent a request for information via email and regular mail. She was sent a reminder email and another demand, again sent by email and regular mail, before Jasman corresponded with the council and provided a response to the demand. For ultimately responding to the demand for information, the council fined Jassman just $750.
In Khan’s case, a request for information was returned undeliverable when sent by email. Two more demands sent by regular mail were ignored. “The agent has not provided a response to the demand or the report,” the decision states.
Assessed the highest fine
Similarly registered just eight months between October 2020 and June 2021, after which his certificate of authority was not renewed, the council assessed the highest fine it could in the case, fining Khan $1,000.
“The (Insurance) Act requires that all holders and formal holders of certificates of authority produce information when called upon. The council is of the view that the public is not well-served when insurance agents simply ignore demands made by the Alberta Insurance Council, like the demand made in this case,” they write. “Given the facts in their entirety, the council is of the view that a significant penalty is warranted in the circumstances. Therefore, council orders that a civil penalty in the amount of $1,000 be levied against the agent.”
Both were ordered to pay their penalties within 30 days.
