Fines levied against licensees who fail to respond to demands for information

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By The IJ Staff | July 14, 2021, 2:30 p.m.

In two recent decisions, an insurance regulator has levied fines against an agent and a car dealership, respectively, after both failed or refused to provide information that was requested.

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ALBERTA INSURANCE COUNCIL (AIC)

Regulator sanctions agents who failed to respond to demand for information

Agent in the industry one year fined $1,000 for not cooperating with regulator

Regulator levies additional sanctions in case where advisors falsified information

Alberta Insurance Council orders $145,000 civil penalty

Disciplinary Decisions

Inactive agent with an active license fined for not maintaining liability insurance

Supervisors fined when licensee leaves client uninsured for months

Agent who defrauded retired couple banned from securities registration

Agency fined $20,000 for repeatedly allowing unlicensed activity