William E. Hancock
Registration Number: R4746
Kitchener, Ontario
Wm. E. Hancock Life & General Insurance Brokers Ltd.
Registration Number: A907
Kitchener, Ontario
HEARING DATE: April 28, 2016
MISCONDUCT: Ontario Regulation 991, ss 14(1), 14(3), 16(4) 4.1 and 4.2
PARTICULARS OF THE COMPLAINT:
William E. Hancock was a registered insurance broker and Wm. E. Hancock Life & General Insurance Brokers Ltd. (hereinafter referred to as “Wm. E. Hancock Insurance Brokers Ltd.”) is a registered insurance brokerage conducting business in the Kitchener/Waterloo area.
As a result of a broker review, it was discovered that William E. Hancock and Wm. E. Hancock Insurance Brokers Ltd. may have failed to serve the member’s client is a conscientious, diligent and efficient manner and failed to provide a quality of service at least equal to that which members would generally expect of a member by collecting premium and failing to place coverage for numerous consumers, providing confirmation of insurance without coverage in place, exceeding binding authority and failing to refund premiums due to clients.
DISCIPLINE COMMITTEE’S DISPOSITION:
At the onset of the hearing, Mr. William E. Hancock waived his right to Counsel at the hearing.
Also at the onset of the hearing a panel member declared that he previously worked together with the Investigator in this matter and Mr. William E. Hancock waived this potential conflict and the hearing proceeded.
The Discipline Committee accepted the plea of guilty by William E. Hancock and accepted the evidence adduced by RIBO in support of the plea of guilty, including an Agreed Statement of Facts and Joint Submission as to penalty, signed on March 9, 2016 by William E. Hancock, and finds that William E. Hancock is guilty of misconduct. The Discipline Committee, therefore, ordered:
(a) That the allegations against the brokerage Wm. E. Hancock Insurance Brokers Ltd. be withdrawn.
(b) That the Certificate of Registration of William E. Hancock is revoked effective 60 days from the date of this Decision.
(c) That a recommendation be made to the Qualification and Registration Committee that they not consider any application from William E. Hancock to reapply for his license until after 2 years from the date of revocation being June 28, 2016.
(d) That should be Qualification and Registration Committee agree to take the application for a Certificate of Registration, William E. Hancock will be required to take and successfully pass the RIBO Level 1 examination and Mr. Hancock’s license will be restricted to “acting under supervision” for a minimum period of 5 years from the date of successfully passing the RIBO exam.