ACT INSURANCE COUNCIL ("Council")
and NANCY LYNN CORRIVEAU (the "Licensee")
ORDER As Council made an intended decision on February 17, 2015, pursuant to section 231 of the Act; and
As Council, in accordance with section 23 7 of the Act, provided the Licensee with written reasons and notice of the intended decision dated March 5, 2015; and
As the Licensee has not requested a hearing of Council's intended decision within the time period provided by the Act;
Under authority of section 231 of the Act, Council orders the Licensee's accident and sickness insurance licence is suspended until such time as the Licensee provides an adequate reply to Council's inquiries and Council has an opportunity to consider the Licensee's suitability to continue to hold an insurance licence.
This order takes effect on the 24th day of March, 2015.
Past Chairperson, Insurance Council of British Columbia
Rita Ager, CFP, CLU, CHS, CPCA, FEA
INTENDED DECISION of the INSURANCE COUNCIL COLUMBIA ("Council")
respecting NANCY LYNN CORRIVEAU (the "Licensee")
INTRODUCTION Pursuant to Council Rules, an applicant for an insurance licence who is a resident of a jurisdiction other than British Columbia must be licensed for the same class of insurance licence in the applicant's home jurisdiction, provide evidence that activities authorized under the same class of licence being applied for in British Columbia are exempt from licensing in the applicant's home jurisdiction, or be otherwise approved by Council.
At the time of the Licensee's application for an accident and sickness insurance ("A&S") licence in British Columbia in 2013, the Licensee was a resident of Ontario and was licensed as an A&S agent with the Financial Services Commission of Ontario.
Subsequent to obtaining an A&S licence in British Columbia, the Licensee's Ontario licence was suspended for not having a licence sponsor. Upon learning of this, Council conducted an investigation pursuant to section 232 of the Financial Institutions Act (the "Act") to determine whether this had a bearing on the Licensee's A&S licence in British Columbia.
Multiple attempts were made to contact the Licensee, but no response has been forthcoming. Consequently, the issue was considered by Council at its February 17, 2015 meeting, where it determined the matter should be disposed of in the manner set out below.
PROCESS Pursuant to section 237 of the Act, Council must provide written notice to the Licensee of the action it intends to take under section 231 of the Act before taking any such action. The Licensee may then accept Council's decision or request a formal hearing. This intended decision operates as written notice of the action Council intends to take against the Licensee.
. .. /2
Intended Decision Nancy Lynn Corriveau 192994 March 5, 2015 Page 2of3
FACTS The Licensee, who was a resident of Ontario at the time of her application for an insurance licence with Council, has been licensed as an A&S agent in British Columbia since August 15, 2013.
On August 5, 2014, the Licensee's A&S agent licence in Ontario was suspended as the Licensee ceased to have a sponsor for her A&S licence.
On August 26, 2014, the Licensee was sent a letter requesting information about her licence status in Ontario. As the Licensee did not respond to this letter, Council sent a second letter to the Licensee by registered mail on November 20, 2014. Canada Post records indicate that the Licensee accepted this letter on November 27, 2014. The Licensee has not responded to either of Council's letters and Council has not otherwise been able to reach the Licensee.
ANALYSIS Council determined that the Licensee received its letters and has elected to not reply to the inquiries. Accordingly, Council found that the Licensee acted contrary to the requirement under the Act that requires her to provide a prompt reply to an inquiry from Council.
INTENDED DECISION Pursuant to section 231 of the Act, Council intends to suspend the Licensee's A&S agent licence until such time as the Licensee provides an adequate reply to Council's inquiries and Council has an opportunity to consider the Licensee's suitability to continue to hold an insurance licence.
The intended decision will take effect on March 24, 2015, subject to the Licensee's right to request a hearing before Council pursuant to section 23 7 of the Act.
RIGHT TO A HEARING If the Licensee wishes to dispute Council's findings or its intended decision, the Licensee may have legal representation and present a case at a hearing before Council. Pursuant to section 237(3) of the Act, to require Council to hold a hearing, the Licensee must give notice to Council by delivering to its office written notice of this intention by March 23, 2015. A hearing will then be scheduled for a date within a reasonable period of time from receipt of the notice. Please direct written notice to the attention of the Executive Director.
Intended Decision Nancy Lynn Corriveau 192994 March 5, 2015 Page 3 of3
If the Licensee does not request a hearing by will take effect.
Even if this decision is accepted by the Licensee, pursuant to section 242(3) of the Act, the Financial Institutions Commission still has a right to appeal this decision of Council to the Financial Services Tribunal ("FST"). The Financial Institutions Commission has 30 days to file a Notice of Appeal, once Council's decision takes effect. For more information respecting appeals to the FST, please visit their website at fst.gov.bc.ca or contact them directly at:
Financial Services Tribunal PO Box 9425 Stn Prov Govt Victoria, British Columbia V8W9Vl
Reception: 250-387-3464 Fax: 250-356-9923 Email: FinancialServicesTribunal@gov.bc.ca
Dated in Vancouver, British Columbia, on the 5th day of March, 2015. For the Insurance Council of British Columbia
Geral~~JJ,:Matier /-~-J3:xecutive Dir.ector 604-695-2001 /
gmatier@insurancecouncilofbc.com
GM/bk
23, the intended decision of Council