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Ignoring regulator’s demand for information costs former agent $1,000

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By Kate McCaffery | Sept. 9, 2022, 10 a.m.

Flash | ALBERTA INSURANCE COUNCIL (AIC) | Disciplinary Decisions

Alberta Insurance Council levies highest penalty available against agent who failed to respond to a formal demand for information.

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ALBERTA INSURANCE COUNCIL (AIC)

Former licensee fined $1,500 for failing to maintain errors and omissions insurance

Alberta levies civil penalties for clear pattern of misrepresentation

Errors and omissions lapse costs agent $1,000

Unresponsive agent fined for ignoring audit

Disciplinary Decisions

Suspended firm’s ultimate designated person fined for failing to promote compliance

Failing to cooperate with regulator results in permanent ban

Relatively new agent avoids client, receives $1,500 fine

Insurance council orders close supervision after agent reported by company