The Life Insurance Council of British Columbia’s market practices committee has ordered former agent, Maverick John Cromartie pay a $300 fine, plus investigation costs before reapplying for a license in the province, after Cromartie failed to respond to a continuing education audit inquiry from the council.
The market conduct auditor of the Insurance Councils of Saskatchewan conducted an audit of the former licensee’s continuing education (CE) records, the results of which were submitted to the council’s compliance and enforcement branch for investigation.
After issuing a notice in March 2024, informing Cromartie that fines were being sought against him for breaching the council’s bylaws, “the licensee did not respond to council in accordance with the timelines set out in the agreement,” the decision states. The regulator cancelled Cromartie’s life and accident & sickness license four days later when he failed to renew it.
“The licensee did not provide written representations or request a hearing to advise the committee as to why the actions identified in the agreement should not be taken,” the decision adds.
In addition to the fine, Cromartie must also pay investigation costs in the amount of $220 and must provide copies of his CE certificates to satisfy the CE requirement for the February 2022 to 2023 reporting period before he will be re-issued a license.
