The General Insurance Council of Saskatchewan has fined Jaime-Lynn Light $500 after it was found that the firm Light represented as designated representative was not licensed with council or registered with the Information Services Corporation (ISC).
Light admitted she was guilty of misconduct for allowing McPhail Travel (Moosomin) to operate without registering the firms’ name with the ISC between January 2020 and September 2021.
“Light also allowed McPhail to operate under a second business name, McPhail Travel & Boutique that was not registered with the ISC until August 27, 2021, and was not licensed with council until October 20, 2021,” the council states in its consensual agreement and undertaking between Light and the council’s market practices committee.
In the agreement, the regulator states that agencies must provide evidence that they are registered with the ISC’s corporate registry, and that they must maintain that registration for as long as they hold an active license. It was also pointed out that no business shall act or offer to act as an insurance agent with respect to a class of insurance unless the business holds a valid license for that class. The agreement did not state how many policies were sold during the time the firm was unregistered.
In addition to the $500 fine, Light agreed to pay investigation costs in the amount of $550.