CONSENSUAL AGREEMENT AND UNDERTAKING (Agreement)
Between
THE LIFE INSURANCE COUNCIL OF SASKATCHEWAN (Council)
And 567657 Saskatchewan Ltd. o/a Kramer Trailer Sales (the Agency)
The Agency through its designated representative, Brendan Kramer (DR) acknowledges and agrees that he received Notice regarding a proposed action, pursuant to Section 10-11 of The Insurance Act (Act), and the reasons therefor, from Council, dated June 18, 2025.
The Agency DR acknowledges and accepts responsibility for misconduct, and agrees that its actions were in violation of the Act, The Insurance Regulations, and Council Bylaws as follows:
The Act, Section 5-26 Financial security required for insurance intermediaries (1) Every business and individual that applies for or holds an insurance intermediary’s licence shall meet and maintain the prescribed financial security requirements.
Regulation 5-10 Financial security – insurance intermediaries and adjusters (1) For the purposes of subsections 5-26(1) and 5-47(1) of the Act: (c) every business that applies for or holds an insurance agent’s or managing general agent’s licence for crop hail insurance shall maintain and provide annually proof of a valid policy of errors and omissions insurance that: (i) provides a minimum of $250,000 coverage with respect to any one occurrence and a minimum aggregate limit of $500,000 with respect to all occurrences within a year; (ii) covers the insurance activities of the licensee; and (iii) is underwritten by an insurance company licensed to do business in Canada;
Consensual Agreement and Undertaking 567657 Saskatchewan Ltd. o/a Kramer Trailer Sales
Bylaw 4-1 Professional misconduct
(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. The Agency’s right to make a written submission to or appear before the Market Practices Committee of Council (Committee) at an oral hearing to make representations as to why this action should not be taken has been explained 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 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. The Agency has either:
a. obtained such independent legal advice prior to executing this Agreement; or b. 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.
The Agency, having waived its rights, accepts and undertakes to fulfill the sanctions imposed by Council as follows:
a.
b.
c.
Pay a penalty in the amount of $1,000.00.
Pay the costs of investigation in the amount of 3 hours x $110.00 = $330.00.
Pay the fine and costs, in the total amount of $1,330.00 within thirty (30) days from the date of this Agreement.
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Consensual Agreement and Undertaking 567657 Saskatchewan Ltd. o/a Kramer Trailer Sales
The Council’s Agreement: Upon fulfillment of the sanctions imposed, the Council agrees this to be the full and final resolution of the violations of Council’s Bylaws by the Agency as outlined in this Agreement.
Originally signed by: July 14, 2025 _________________________________________________________ _______________________________________
Designated Representative, Brendan Kramer on behalf of the Agency
Date
Originally signed by: July 23, 2025 _________________________________________________________ _______________________________________ Denny Huyghebaert, Executive Director Date Insurance Councils of Saskatchewan
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