Consensual Agreement and Undertaking Between The Complaints and Investigation Committee of The Life Insurance Council of Saskatchewan (the Committee) and
Grizzell Salvador Austria
The Committee is authorized under Bylaw 7, Section 5, subsection 3, subparagraph (b), to enter into consensual resolutions of complaints.
Bylaw 5, Section 1, subsection 1 reads: The administrator shall, in addition to the requirements for the contents of a register required by the Act and the regulations, record on the register the existence and results of all disciplinary decisions or orders, court orders, alternative dispute resolution agreements, undertakings and mediation agreements involving a licensee or a person to whom the Life Insurance Council of Saskatchewan (Council) has the authority to issue a licence. Disciplinary actions as described are reported on the Insurance Councils of Saskatchewan website and the Canadian Insurance Regulators Disciplinary Actions (CIRDA) database.
Grizzell Salvador Austria (Austria) acknowledges and agrees that: 1. She violated Council Bylaws when: A. Contrary to Bylaw 8, Section 2 (g) a licencee may be guilty of misconduct if the licencee: violates any provision of the Act, the regulations or the bylaws;
i. When contrary to Schedule A, Part II, Section 6, subsection (1) she failed to maintain a valid policy of errors and omissions insurance;
a) When on March 21, 2015 she allowed her errors and omissions ( E&O ) insurance to lapse while the licence remained active,
b) E&O was not re-established until April 1, 2015.
Consensual Agreement and Undertaking
c) Austria was without E&O coverage for 11 days; and ii. When contrary to Bylaw 2, Section 1, subsection (4) (d) she failed to immediately notify Council of cancellation or non-renewal of her errors and omissions insurance.
2. Austria s rights to appear before a Discipline Committee of Council have been explained to her and she fully understands her rights and/or obligations under Council Bylaw 10;
3. She waives her rights to appear before a Discipline Committee and undertakes not to exercise any appeal rights she may have under Council Bylaw 10, Section 3 or The Saskatchewan Insurance Act, (the Act) as it relates to matters set out in this Consensual Agreement and Undertaking (Agreement).
4. This Agreement does not preclude Council from pursuing any other investigation against her for activities not identified in this Agreement that may be in violation of Council Bylaws or the Act.
5. Austria has been advised by the Committee that it is in her interests to obtain independent legal advice before entering into this Agreement.
a. Austria has obtained such independent legal advice and is satisfied with the same, prior to executing this Agreement, or
b. Austria has willingly chosen not to obtain such advice prior to executing this Agreement.
6. Austria hereby affirms that she has read and understood the terms of this Agreement, and is signing it voluntarily and of her own free will.
Austria, having waived her rights, undertakes to: 1. Pay a fine in the amount of $172.00; and 2. Reimburse Council s investigation costs in the amount of $330.00. 3. Austria will pay all fines and investigative costs within 30 days of receipt of this Agreement.
4. Austria will ensure E&O insurance is in place while she continues to hold an insurance licence in Saskatchewan.
2
Grizzell Salvador Austria.
Consensual Agreement and Undertaking
The Committee s Agreement: 1. The Committee agrees to accept from Austria the payment of $502.00 as full and final resolution of this violation of Council s Bylaws as outlined in this Agreement; and
2. The Committee further agrees to take no further action against Austria for the acknowledged violations of Council s Bylaws that are set out in this Agreement.
Dated at Prince Albert, in the Province of Saskatchewan, this 13th day of August, 2016. Originally Signed by Grizzell Salvador Austria
Dated at Saskatoon, in the Province of Saskatchewan, this 29th day of August, 2016. Originally Signed by Roderick Baxter, Chair, Complaints and Investigation Committee Life Insurance Council of Saskatchewan
3
Grizzell Salvador Austria.