CONSENSUAL AGREEMENT AND UNDERTAKING (“Agreement”)
Between THE MARKET PRACTICES COMMITTEE (“Committee”) of
THE GENERAL INSURANCE COUNCIL OF SASKATCHEWAN (“Council”)
And HUB INTERNATIONAL MANITOBA LIMITED O/A HUB A/O/A HUB INTERNATIONAL A/O/A PRINCE ALBERT INSURANCE A/O/A GALON INSURANCE BROKERS A/O/A RENEWMYPLATES (“Agency”)
The Agency, through its designated representative Keith Frederic Jordan (“DR”) acknowledges and agrees that it received the Notice regarding a Proposed Action pursuant to Section 10-11 of The Insurance Act (the “Act”), and the reasons therefor, from Council, dated July 11, 2023.
The Agency acknowledges and agrees that it is guilty of misconduct by violating the following sections of the Act and Council Bylaws:
The Act Section 5-4 Insurance agent’s licence required 5-4(3) No business that holds an insurance agent’s license, other than restricted insurance agent’s licence, shall employ or appoint an individual to act as an insurance agent unless the individual holds a valid insurance agent’s licence.
Section 7-2 Dealing with unauthorized insurance intermediaries 7-2(1) Dealing with unauthorized insurance intermediaries 7-2(1) No insurer, no officer, employee or agent of an insurer and no insurance intermediary shall, directly or indirectly, pay or allow, or offer or agree to pay or allow, any commission or other compensation or anything of value to any person acting or offering to act as an insurance intermediary in Saskatchewan, unless that person is authorized to act as an insurance intermediary pursuant to this Act.
Consensual Agreement and Undertaking Hub International Manitoba Limited o/a HUB a/o/a HUB International a/o/a Prince Albert Insurance a/o/a Galon Insurance Brokers a/o/a renewmyplates
Bylaw 4-1 (1) For the purposes of the Act, the regulations and these bylaws, professional misconduct is a question of fact but includes any matter, conduct or thing, whether or not disgraceful or dishonorable that:
(c) is a breach of the Act, the regulations or these bylaws.
The Agency acknowledges and agrees that: a. Its right to make a written submission to, or appear before the Committee at an oral hearing, as to why this action should not be taken, has been explained to the DR and that he fully understands the Agency’s rights and/or obligations.
b.
c.
d.
e.
The Agency waives its right to make a written submission to the Committee or to appear before the Committee at an oral hearing and chooses to resolve this matter by way of this Agreement and accordingly waives any right of appeal with respect to this action.
This Agreement does not preclude the Council from pursuing any other investigation and/or sanctions against the Agency for activities not identified in this Agreement that may be in violation of the Act, The Insurance Regulations (“the regulations”) or Council Bylaws.
The Agency has been advised that it is in its best interest to obtain independent legal advice before entering into this Agreement, and the Agency has either:
i. obtained such independent legal advice prior to executing this Agreement; or ii. has willingly chosen not to obtain such advice prior to executing this Agreement. The DR hereby affirms that he has read and understands the terms of this Agreement and is signing, on behalf of the Agency, voluntarily and of his own free will.
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Consensual Agreement and Undertaking Hub International Manitoba Limited o/a HUB a/o/a HUB International a/o/a Prince Albert Insurance a/o/a Galon Insurance Brokers a/o/a renewmyplates
The Agency having waived its rights, accepts and undertakes to fulfill the sanctions imposed by the Committee as follows:
1. 2.
3.
4. 5.
The Agency enter into a Consensual Agreement and Undertaking (“Agreement”). The Agency pay the following fine:
Bylaw 4-1(1)(c)
$500 for violating Bylaw 4-1(1)(c)
Costs of investigation: 4 hours at $110 per hour = $440
$500
For a total of: $500
Total fines and costs of investigation: $500 + $440 = $940 Fines and costs of investigation must be paid within 30 days of the acceptance of the Agreement.
The Committee’s Agreement: Upon fulfillment of the sanctions imposed, the Committee agrees this to be the full and final resolution of the violations of Council’s Bylaws by the Agency as outlined in this Consensual Agreement and Undertaking
_______O__r_i_g_i_n_a_l_ly__ s_i_g_n__e_d_ _b_y_:_______________________________ _____Ju__ly_ _1_3__, _2_0__2_3______________________ DR Keith Frederic Jordan, on behalf of the Agency Date
_______O__r_ig__in__a_l_ly_ _s_i_g_n_e__d_ _b_y_ _L_a_u__r_e_e_n_ _M__a_j_o_r_ _f_o_r_:__________ _______J_u_l_y_ _1_3_,_ 2__0_2_3____________________ THE MARKET PRACTICES COMMITTEE Date General Insurance Council of Saskatchewan
Penalties affecting insurance intermediary’s licence
5-39(3) If a penalty imposed against a holder of an insurance intermediary’s licence pursuant to subsection (2) is not paid within 30 days after the holder is served with the written notice of the penalty and the decision of the Superintendent is not appealed, the licence is automatically suspended immediately following the last date for paying the penalty or appealing the decision, whichever is later, and remains suspended until the penalty is paid or the licence expires.
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