Agent not working in the industry, cancels errors and omissions insurance in violation of province’s Insurance Act.
Insurance council levies civil penalty for making false or misleading statements on renewal applications.
Failure to complete one course results in $750 fine.
Agent who decided not to renew still required to produce proof of continuing education while licensed.
Alberta Insurance Council levies highest penalty available against agent who failed to respond to a formal demand for in
Regulator states that corporate policy not appropriate coverage for sole proprietor.
Agent had errors and omissions insurance in place but failed to respond to audit in a timely manner.