Daniel Anthony Conrado Registration Number: I31004 Brampton, Ontario
HEARING DATES: May 11, 2021 and June 28, 2021 MISCONDUCT: Ontario Regulation 991, ss. 14.1; 14.3; 16.4.2; and 16.4.4 PARTICULARS OF THE COMPLAINTS: At all material times Mr. Daniel Anthony Conrado was a registered insurance broker.
As a result of information received from a brokerage formerly employing Mr. Daniel Anthony Conrado and information received from a member of the public, it appeared that Mr. Daniel Anthony Conrado committed misconduct by:
• manipulating client files in the Broker Management System to produce false evidence of insurance for consumers who were not insured through the brokerage; • collecting in cash, premium from consumers and issuing fraudulent insurance binders; • depositing premium received from consumers into his personal bank account; • failing to forward the premium received from clients to the underwriters; • providing a false Letter of Experience to a consumer and failing to forward the consumer’s premium to the insurance company which resulted in the consumer’s policy being cancelled for non-payment of premium; • instructing a consumer to submit payment to his personal email address for deposit to his personal bank account; • collecting the premium from a consumer and producing false evidence of insurance; and • failing to forward the premium to the brokerage or to the underwriter which resulted in the underwriter issuing to the consumer a notice of policy cancellation for non-payment of premium.
DISCIPLINE COMMITTEE’S DISPOSITION: The Discipline Committee (hereinafter referred to as the “Committee”) received submissions from Counsel for RIBO, including the filing of Affidavits of Service from RIBO’s Legal and Administrative Coordinator sworn and dated May 3, 2021, indicating that Mr. Daniel Conrado was served with the Notices of Hearing and Directions at Mr. Conrado’s last known email address given to RIBO.
The Committee also received submissions from Counsel for RIBO and heard the testimony of RIBO’s Legal and Administrative Coordinator that emails of all
2 documentation filed in the proceedings, including disclosure letters were sent to Mr. Daniel Anthony Conrado at his last known email address. Mr. Daniel Anthony Conrado was also notified in the disclosure letters of the date and time of the Penalty Phase Hearing. The Committee retained its jurisdiction to hear the matters as the events in question occurred during the time Mr. Daniel Anthony Conrado was registered with RIBO and in accordance with the provisions of Section 5 of the Registered Insurance Brokers Act.
The Committee accepted the evidence adduced by RIBO in the proceedings which included the exhibits that were filed and the testimony of witnesses being representatives of Mr. Daniel Anthony Conrado former employer brokerages and two of his former clients and representatives from insurance companies. The Committee found the evidence to be compelling and the witnesses credible and that there was sufficient evidence to find that Mr. Daniel Anthony Conrado was guilty of misconduct and particularly Sections 14.1, 14.3, 16:4.2. and 16:4.4 of the Code of Conduct in Ontario Regulation 991 and the Particulars of the Complaint which are set out in paragraph 2 of the Directions. The Discipline Committee provided Mr. Daniel Anthony Conrado with its written Reasons on May 27, 2021 and June 28, 2021 following the May 11, 2021 and June 28, 2021 Hearing dates. The Committee, therefore, ordered:
(a) that Mr. Daniel Anthony Conrado pays a fine by cheque in the amount of $10,000.00 made payable to the Minister of Finance.
(b) that the Certificate of Registration of Mr. Daniel Anthony Conrado be revoked effective immediately.
(c) that a recommendation be made to the Qualification and Registration Committee that Mr. Daniel Anthony Conrado not be considered for Registration for a period of not less than 10 (ten) years from the date of this Order.