The Life Insurance Council of Manitoba (ICM) has fined a former life and accident & sickness insurance agent, in the industry for less than two years, for submitting 10 insurance applications containing various discrepancies, including invalid banking information and instances where he used his own phone number.
When questioned by the insurer in the case about why his own telephone number was used as contact information on two consumer applications that were not his, Sahibdeep Singh Natt told the investigators that the number was not his. When it was discovered that the same phone number was used on his own application for insurance, he then claimed that he had used a different computer to complete the applications and his own phone number was automatically filled.
Licensed from September 2020 until July 2022, Natt also claimed that the applications, submitted during the COVID-19 pandemic, were completed over the phone and that there may have been miscommunication while filling in the information. In all 10 instances the applications indicated that Natt had met with clients in person. “The former licensee responded to the council’s investigator that he had selected that option in error and had meant to select remote,” the decision in the case states. “These were not singular instances but rather a pattern of non-compliant behaviour.”
The insurance council ultimately levied a $6,000 penalty in the case. Broken down, Natt was fined $4,000 and assessed investigation costs in the amount of $2,000.
