In British Columbia, an agent is being sanctioned for missing continuing education (CE) credits and for having lapsed errors and omissions (E&O) insurance coverage after being terminated by his insurer.
Tong Jun Liu, first licensed in June 2015, must pay $1,500 in fines, costs in the amount of $1,250 and must complete remedial coursework after being fired and failing to inform the Insurance Council of British Columbia (ICoBC) of the fact that he was without E&O insurance following his termination. It was also found that Liu was short 19 CE credits over two licensing periods.
Liu says following his termination he did not open mail from the insurer and was not immediately aware that he was without coverage. All told, his license was without E&O coverage for 167 days. He self-disclosed the lapse in May 2023. He had not conducted any insurance activities during the period in which he was without coverage because he switched careers following his termination. In June 2023 Liu reactivated his license and obtained the required policy.
Regarding the missing CE credits, Liu says he saved the CE certificates to an external device prior to returning his work computer to the insurer but did not verify that the certificates would open. Although he contacted the insurer and asked for the reinstatement of his work email or access to the advisor’s learning website to obtain the CE certificates, the insurer would not grant him access. In issuing its intended decision, the insurance council noted that Liu was credible in his assertions that he’d completed sufficient CE during the period but also noted that he did not make an effort to locate the certificates from other course providers.
For self-reporting the E&O lapse and for cooperating with the council’s investigation, the regulator cut the $1,000 penalty for non-disclosure in half, fining Liu just $500. It also added $500 for each period he was without sufficient CE.
In addition to completing the 19 missing credits, Liu was also ordered to complete the Council Rules Course for Life and/or Accident & Sickness Agents and the Continuing Education Requirements & Guidelines Course by mid-June 2026.
