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Saskatchewan introduces Restricted Auto Salesperson Licence
Restricted Auto Licensees will be able to sell and service private passenger extension auto policies, excluding insurance for any vehicle used commercially
Category: Provincial Council Updates
BC insurance salesperson reprimanded, fined following privacy breach
“Based on the evidence, Council concluded the Licensee unintentionally acted contrary to the requirements surrounding confidentiality in a misguided attempt to assist an Agency client in a claim matter.”
Three BC life insurance agents fined for failing to report termination of E&O insurance
Council Rule 7(11) states that a licensee must notify Council within five business days of ceasing to have E&O insurance
BC insurance licensee suspended for placing improper cover, taking ICBC stock and other infractions
The Insurance Council of B.C. says the former licensee processed ICBC transactions on a vehicle knowing that the principal operator of the vehicle was misstated, provided an ICBC decal to a friend without placing insurance on the friend’s vehicle and took ICBC stock (decals and temporary operating permits) from her employer’s office without proper authority
BC Insurance Council puts limits on granting restricted general insurance licenses to motor vehicle dealers, dealerships
By ILSTV Staff on Oct 09, 2012 in Provincial Council Updates
Council will continue to issue restricted licensed, but will impose additional requirements to “support public protection”, including imposing limits on insurance products that can be sold and impose additional licensing requirements
Saskatchewan insurance licensees must provide Council with copy of E&O Certificate of Insurance
The Insurance Councils of Saskatchewan is requesting that, effective immediately, licensees in the province forward a copy of their Errors & Omissions (E&O) Certificate of Insurance upon renewal of the insurance policy
Insurance Council of BC establishes new rules for supervision of new life and/or A&S agents
By ILSTV Staff on Jul 23, 2012 in Provincial Council Updates
The new rules will apply to all licenses issued to new life agents where the license has an effective date of September 1, 2012 or later
BC insurance licensee fined for forging husband’s signature with consent
A Level 1 general insurance salesperson in British Columbia has been fined $500 and ordered to pay investigative costs of $712.50 after the Insurance Council of B.C. found that she forged the signature on an insurance document
Alberta Standard Automobile Insurance Policy (SPF #1) revised
The revisions reflect the changes that become effective July 1, 2012 with the implementation of the Insurance Amendment Act, 2008
FSCO warns of pink card scams
FSCO has issued a consumer warning on Batch Bros Brokers. The firm is not licensed to do insurance business in Ontario and appears to be involved in a pink card scam
Ontario Accident Benefits claims costs per vehicle increased by 105% over the last four years
FSCO: Auto insurance rate filings approved during the first quarter of 2012 declined an average of -0.18% based on the entire market
RIBO warns of unlicensed brokers operating in Ontario
RIBO says United Brokers Insurance and Progress Insurance is not licensed to conduct automobile insurance in the province and Ottawa Insurance Broker Service is not licensed for P&C business
FSCO issues warnings on Royal Insurance, American Insurance
Regulator says neither Royal Insurance nor American Insurance is licensed to do insurance business in Ontario
BC Insurance Council reviewing issuances of restricted general insurance licenses to motor vehicle dealers
Council reviewing whether issuance of restricted licenses is in the best interest of the public; seeks feedback
Toronto-area rehab clinics, clinic owners and directors face 28 charges over fake insurance invoices
McCowan Rehabilitation Clinic, Ontario Rehabilitation Clinic, Physiotherapy Clinic and North York Health & Rehabilitation Centre charged by FSCO
AMF warns of Nagle & Associates Insurance Company
Nagle & Associates Insurance Company is alleged to have sent documentation concerning an automobile insurance policy underwritten by Jevco Automobile Insurance Company to a resident of Woodbridge, Ontario but Jevco has not conducted business with the firm
FSCO releases Cost of Goods Guideline for Ontario auto insurers
Guideline has been developed as a result of a recommendation by the Auto Insurance Anti-fraud Task Force in its interim report regarding measures that should be undertaken as soon as possible
Life insurance agent’s license cancelled for five years following his role in import investment
BC’s James Robert Milligen has had his license cancelled for five years for his role in using his insurance clients’ money to invest in the importation of gold from Ghana to Canada
BC broker takes insurance decal from agency, is suspended for two years
Former licensee took ICBC auto insurance decal from work and affixed it to her vehicle without registering it or renewing her insurance
