In the Matter of the FINANCIAL INSTITUTIONS ACT, RSBC 1996, c.141 (the “Act”)
and the INSURANCE COUNCIL OF BRITISH COLUMBIA (“Council”)
and PRITPAL SINGH MANN (the “Licensee”)
ORDER As Council made an intended decision on May 8, 2018, pursuant to sections 231, 236, and 241.1 of the Act; and
As Council, in accordance with section 237 of the Act, provided the Licensee with written reasons and notice of the intended decision dated June 28, 2018; 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 sections 231, 236, and 241.1 of the Act, Council orders: 1. The Licensee is fined $5,000.00; 2. The Licensee is assessed Council’s investigative costs of $2,375.00. 3. A condition is imposed on the Licensee’s Level 2 general insurance agent licence that requires the Licensee to pay the above-ordered fine and investigative costs no later than October 18, 2018. If the Licensee does not pay the ordered fine and investigative costs in full by this date, the Licensee’s general insurance agent licence is suspended as of October 19, 2018, without further action from Council and the Licensee will not be permitted to complete any subsequent annual filings until such time as the ordered fine and investigative costs are paid in full.
This order takes effect on the 20 th day of July, 2018. _________________________________________ Ken Kukkonen Chairperson, Insurance Council of British Columbia