B.C.’s broker regulator, the Insurance Council of B.C., is now consulting on a proposed new restricted licensing framework to regulate the sale of incidental insurance, the council announced in late May. The regulator’s initiative follows the province’s Bill 37, which…
A former broker in British Columbia is banned from applying for a licence for three years after the provincial regulator found he misappropriated funds received on behalf of an insurer for his own personal benefit. Vladimir Prokopchik had been licensed…
In a clear conflict of interest case, the Insurance Council of B.C. has allowed an insurance adjuster who co-owns an adjusting firm with his wife to double as a minority owner in a moving and storage company that sells its…
A B.C. broker caught cheating on her CAIB 3 broker licensing exam has had her general and life insurance licenses suspended for a year. The Insurance Council of B.C. noted the broker was not deceptive when confronted about her behaviour.…
A B.C. broker who believed he was leaving one agency for another with his own book of business received a $2,500 fine for a privacy breach when he took a spreadsheet of his clients’ information with him. Before joining his…
B.C.’s broker regulator showed little compassion for a broker who flouted a license restriction by making an out-of-office visit to a sick elderly client to renew her auto insurance. The Insurance Council of B.C. fined Safir Mohamed Lalji $1,000 for…
A B.C. broker has been fined $2,500 and ordered to complete a privacy compliance course after it was discovered that she was storing client documents in the locked garage of her home. Her time-honoured, paper-based method of storing documents came…
B.C. broker Elliott Herrera had his license suspended for a year after the provincial regulator found that he had his unlicensed spouse assist him with insurance activities. Once his spouse had obtained an insurance licence, Herrera then provided client information…
A B.C. broker has had his licence cancelled for five years after the provincial broker regulator found that he had participated in a kickback scheme involving a potential preferred vendor for the brokerage. Bhupinder Singh Atwal, assistant vice president at…