Keyword
broker
Insurance certificate fraud costs ex-broker $26K
May 5, 2021 by David GambrillAlberta’s broker regulator has issued a civil penalty of $26,000 against a former broker found to have issued false insurance certificates to clients as “placeholders” until coverage was bound — which it never was. The penalty was based on 52…
Court sides with condo insurers that used the wrong policy to deny a $4.4-million water damage claim
January 20, 2021 by David GambrillSix subscription policy insurers that denied coverage to a condo corporation in a $4.4-million water damage claim — a denial based on reference to the wrong policy — have had the matter tossed out of court. The Court of Queen’s…
Digital brokers: Should you build your own tech, or buy someone else’s?
October 22, 2020 by David GambrillOkay, so your brokerage is going digital: Should you build your own technology, or buy someone else’s? The answer is largely situational, with panellists at the Insurance Brokers Association of Ontario’s 2020 virtual convention offering their best advice to brokers…
How a simple office procedural error led to a fine for a broker, the nominee, and the brokerage
July 15, 2020 by David GambrillA “lack of appropriate office procedures,” in addition to a “casual” approach to handling a client file, led to a series of miscues that resulted in coverage not being bound for a married couple who reported a theft of their…
Broker fined $2K for obtaining premium relief for a client while unlicenced
July 10, 2020 by David GambrillA Manitoba broker was recently fined $2,000 after obtaining premium relief for a client within hours of being told by the regulator that he was unlicensed to act as a broker. On Dec. 19, 2018, Darcy Dion Boguski completed the…
Broker fined for misrepresenting cause of her termination
February 21, 2020 by David GambrillA Manitoba broker has been fined $1,000 and ordered to take an ethics course after failing to fully disclose on her broker licence renewal application why her brokerage had terminated her for cause. Rahat Sharma, a broker who used to…
Three-year ban for broker convicted of misappropriating more than $16,000
January 27, 2020 by David GambrillThe former branch office manager of a B.C. brokerage has been banned from being a broker for a minimum of three years after she was convicted for misappropriating more than $16,000 of Insurance Corporation of B.C. (ICBC) funds for personal…
Discipline digest
July 9, 2019 David Gambrill, Editor-in-ChiefIt’s time for a national standard on publishing provincial broker discipline decisions
Why brokers need to check their dec pages
April 4, 2019 by David GambrillA Manitoba broker was fined $1,000 fine for not checking to make sure his client’s request for a Single Limit Endorsement was included as part of the client’s home insurance coverage. It wasn’t, as it turns out, and the client…
Broker fined for failing to review with his client a $1.4-million coverage change
March 14, 2019 by David GambrillA Manitoba broker is out of pocket $1,000 for failing to review with his client a $1.4-million change to a client’s commercial property insurance policy. On Dec. 12, 2011, an insurer requested renewal instructions from Manitoba broker Horace Smaczylo, as…
Broker lands in hot water after BI coverage miscue
February 5, 2019 by David GambrillA Manitoba broker landed in hot water after filling in for a vacationing colleague whose commercial client wound up without business interruption coverage. Broker John C. McDonald was fined $250 for his role in the coverage mix-up. When McDonald’s work…
Why being a broker is the best job ever
January 31, 2019 by Jason ContantThe feeling that their opinions are heard and often implemented is just one of the reasons brokers report being satisfied with their choice of career. “I truly believe that I am a valued professional advisor,” Ryan McKenna, commercial and personal…