What’s New at the Insurance Council | February 2021 |
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Completion of Supervision Period for New Life and Accident & Sickness Licensees A reminder that new life and/or accident & sickness agents and their supervisors need to submit a “Confirmation of Completion” form to the Insurance Council for approval when the new agent’s supervisory period is over. Until the Insurance Council receives and approves this form, the “under supervision” condition remains on the new agent’s licence. The minimum supervision period for a new life and/or accident & sickness agent is 24 months, rather than a maximum, so it’s important to complete and send in the form so that the conditions can be removed. You can find the form here under the heading 'Supervision/New Supervisor.' |
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Appointment to Council We are pleased to announce the following voting member appointment to the Insurance Council of BC:
See our website for more information about the members of Council. |
DISCIPLINE DECISIONS Anthony Bryan Chua Cua was disciplined for breaching the Insurance Council Rules, and Code of Conduct by unethically profiting from commissions received from ICBC for repeatedly processing one-year vehicle insurance policies for a vehicle dealership engaged in the export of vehicles, and then cancelling the policies a few days later. Eunice Chew Hoon Gan was disciplined for breaching the Financial Institutions Act, Insurance Council Rules, and Code of Conduct by providing unsuitable investment recommendations to an elderly client, and by failing to conduct an accurate needs analysis for the investments, respond to the client’s requests in a timely manner, and keep adequate records. Ting En (Brian) Lin was disciplined for breaching the Insurance Council Rules, and Code of Conduct by unethically profiting from commissions received from ICBC for repeatedly processing one-year vehicle insurance policies for a vehicle dealership engaged in the export of vehicles, and then cancelling the policies a few days later. |