In a consensual agreement and undertaking between the market practices committee of the Life Insurance Council of Saskatchewan and Jashandeep Kaur Dhillon, the agent agreed he was guilty of misconduct when he failed to satisfy supervisory requirements imposed on new agents.
Specifically, Dhillon was required to satisfy the supervision certificate requirement during the two-year period his license was subject to the new agent supervision requirement.
According to the insurance council, a licensee who is subject to new agent supervision must, within 10 days of taking an application for insurance, have a supervision certificate completed and signed by an agent who is qualified to act in a supervisory capacity. Similarly, if replacing a life insurance policy, a supervision certificate must be attached to the completed life insurance replacement declaration document.
In addition to a penalty in the amount of $500, Dhillon must also pay the council’s investigation costs totalling $550.