Registered Insurance Brokers of Ontario

Oxford Insurance Group Limited

Registration Number:  D3132

Mississauga, Ontario

Peter Duric

Registration Number: R14307

Mississauga, Ontario

HEARING DATE: June 6, 2013

MISCONDUCT:  Ont. Reg. 991, ss. 15(1)13, 16(4) 4i and ii, 5 and (6), 17(2)(d) and (5).

Oxford Insurance Group Limited (hereinafter referred to as “Oxford Insurance”) and Peter Duric as Principal Broker, has been in breach of an Order of the Discipline Committee dated the 1^st day of November, 2012, wherein Oxford Insurance was ordered to file monthly position reports in Form-1 showing full compliance for a period of 1 year, commencing with the month ending November 30, 2012 and thereafter as at December 31, 2012 to October 31, 2013, with usual attachments.  Upon review of the broker’s submissions; position reports and financial attachments, RIBO staff noted that the January 31, 2013 position report indicated that the brokerage maybe in non-compliance with RIBO Reg. s. 16. Therefore, as a result of all of this Oxford Insurance and Peter Duric as Principal Broker at that time were in breach of paragraph 3(b)i of the said Order.

DISCIPLINE COMMITTEE’S DISPOSITION:

At the onset of the hearing Peter Duric requested an adjournment of the matters that pertain to him personally in the case, which adjournment was granted by the Discipline Committee.

The Discipline Committee accepted the plea of guilty by a Court appointed trustee on behalf of Oxford Insurance, and accepted the evidence adduced by RIBO in support of the plea of guilty and finds that Oxford Insurance is guilty of misconduct as alleged in the Notice of Hearing for Breach of Order. 

The Discipline Committee ordered: 

(a)       That the Certificate of Registration of Oxford Insurance is hereby revoked.

(b)       That the revocation noted above is hereby suspended for 60 days pending submission by Oxford Insurance of the outstanding financial documents required under the Order of the Discipline Committee dated November 1, 2012.

(c)       That if Oxford Insurance is in full compliance with the conditions referred to in paragraph 3(b) above on or before August 6, 2013, the revocation referred to in paragraph 3(a) above, shall be and is hereby rescinded.

(d)       That upon, and in the event of, a failure by Oxford Insurance to comply with the conditions referred to in paragraph 3(b) above, then the revocation referred to in paragraph 3(a) above, shall become and is hereby effective immediately thereafter.