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B.C. Insurance Council places restrictions on SSEI Insurance Agency, suspends license of its sole officer and director


November 22, 2010   by Canadian Underwriter


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The Insurance Council of British Columbia has placed conditions on the license of SSEI Insurance Agency and suspended the license of its sole officer and director, Nicholas Di Perno, pending an investigation of misconduct allegedly occurring at the sports and special events insurer.
In a ‘Decision and Order’ published online in November 2010, the council said it is conducting an investigation into allegations that “as SSEI’s nominee, Nicholas Di Perno failed to ensure there was adequate supervision at SSEI and, as a result, the following conduct allegedly occurred at SSEI:

  • insurance binders and/or insurance policy documentation were issued without authority;
  • SSEI staff carried on insurance business without being licensed with Council as required;
  • policy fees were not disclosed as required;
  • insurer policy documentation was altered; and
  • insurance coverage was placed without insurer authority.

The Decision and Order notes Nicholas Di Perno “acknowledged that misconduct occurred” at SSEI.
Given that “the above allegations are sufficiently serious to call into question Nicholas Di Perno’s suitability to be an officer or director of any insurance agency,” the Decision and Order says, the council prohibited Di Perno “from having any involvement whatsoever in the day to day insurance activities of SSEI.”
The council further placed a restriction on the license of SSEI, so that any nominee of SSEI must be at arm’s length from SSEI’s principals and must be approved by the insurance council.


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