In Saskatchewan, a designated representative for Mark’s Agency (1981) Ltd., and Trustmark Insurance Brokers is being ordered to pay $3,000, plus investigation costs, after it was found that the representative failed to disclose a criminal code conviction and allowed the businesses to operate under corporate and business names that were not registered with the Information Services Corporation (ISC) of Saskatchewan.
Larry Wayne Kozakevich agreed to pay a penalty of $3,000 after it was found that he did not disclose a criminal code conviction on six annual reporting forms submitted to the General Insurance Council of Saskatchewan, both for Trustmark and for himself personally.
He also allowed Mark’s Agency to operate without registration with the ISC for 217 days between August 2020 and March 2021, while Trustmark operated for 337 days without being registered between August 2020 and July 2021. Licensing requirements in the province stipulate that agencies must provide evidence that they are registered with the ISC for as long as they hold an active license.
More, the consensual agreement and undertaking signed between Kozakevich and the insurance council’s market practices committee, also states that the representative did not follow sound business practices when he was absent from Trustmark but did not take measures to have the firm’s mail redirected to him while he was away.
In addition to the $3,000 fine, Kozakevich also agreed to pay investigation costs totalling $660.