Consensual Agreement and Undertaking Between The Complaints and Investigation Committee of the General Insurance Council of Saskatchewan
and B S I Insurance Brokers Ltd. B S I Insurance Brokers Ltd. (BSI) acknowledges and agrees that: 1. It is a Saskatchewan non-resident All Classes other than Life Insurance Licensee. Its home jurisdiction is Manitoba.
2. It contravened Bylaw 8, Section 2 subsection(g), of the General Insurance Council of Saskatchewan (Council) when:
a. it failed to notify Council of the proceedings of the Insurance Council of Manitoba where it was fined for violating the Manitoba Insurance Act. A licensee is obligated under Bylaw 2, Section 1, subsection 4(c)(ii) to notify Council within 30 days of the commencement of any professional, occupational or regulatory body proceedings involving the licensee.
3. It contravened Council Bylaw 8, Section 2, subsection (d) by making a material misstatement in an application for licence or report to continue a licence when:
a. on its June 4, 2009, May 12, 2010 and April 25, 2011 Annual Reporting Form (ARF) it declared that all statements and answers on the ARF were true and correct when it knew or should have known that the answer it provided at question 7 of the ARF was incorrect.
4. Its rights to appear before a Discipline Committee of Council have been explained to it through its Designated Representative and it fully understands its rights and obligations under the GIC Bylaw 10.
5. It waives its rights to appear before a Discipline Committee of Council and undertakes not to exercise any appeal rights it may have under Council Bylaw 10, Section 3 or The Saskatchewan Insurance Act (the Act), Section 466.1 (7.1), as it relates to matters set out in this Consensual Agreement and Undertaking (Agreement).
. . . 2
2 6. It has been advised by the Complaints and Investigations Committee (the Committee) that it is in its interests to obtain independent legal advice before entering into this Agreement.
7. This Agreement does not preclude the Committee from pursuing any other investigation against it for activities not identified in this Agreement that may be in violation of Council Bylaws or the Act.
BSI having waived its rights undertakes to: 8. Pay a fine in the amount of $250.00 for contravention of Council Bylaw 8, Section 2 subsection (g);
9. Pay a fine in the amount of $250.00 for contravention of Council Bylaw 8, Section 2 subsection (d); and
10. Reimburse Council for the Committee’s investigation costs in the total amount of $550.00
The Committee’s Agreement: 11. The Committee agrees to accept as full and final resolution to the acknowledged violations of the Council Bylaws as set out in this Agreement the following:
a. payment to Council a fine in the total amount of $500.00; and b. payment to Council of the Committee investigation costs in the total amount of $550.00.
Dated at Letellier in the Province of Manitoba, this 20 day of July, 2011.
Originally signed by: Richard Barnabe, Designated Representative for BSI Insurance Brokers Ltd.
Dated at __Saskatoon_, in the Province of Saskatchewan, this __26___ day of July, 2011.
Originally signed by: ______________________________________________________ Dave Prociuk, Chairman Complaints and Investigation Committee General Insurance Council of Saskatchewan