The market practices committee of the General Insurance Council of Saskatchewan has entered into a consensual agreement and undertaking between the council and Matthew (Matt) Lee Bergen and the Olson Insurance Group Ltd. The decision is unusual in that it stops short of ordering financial penalties.
While the agreement is short on detail, the council says Bergen acknowledges and agrees that he is guilty of misconduct by violating sections of the province’s Insurance Act and the council’s bylaws when he acted as an insurance agent in Saskatchewan during a period that he did not hold a license.
“No individual shall act or offer to act as an insurance agent with respect to a class of insurance unless the individual is an employee or independent contractor of a business or partner of a partnership that holds a valid insurance agent’s license for that class of insurance and the individual holds a valid insurance agent’s license for that class of insurance,” explains the agreement, citing Saskatchewan’s Insurance Act.
“The licensee, having waived his rights, accepts and undertakes to fulfill the sanctions imposed by the committee,” the agreement adds, before stating that the sanction will be to accept a warning letter for contravening the council’s bylaws.
