Consensual Agreement and Undertaking Between Rodney Lyle Cunningham and The Complaints and Investigation Committee of The Life Insurance Council of Saskatchewan (The Committee)
Rodney Lyle Cunningham (Cunningham) acknowledges and agrees that: 1. He violated The Life Insurance Council (Council) Bylaws when:: a. contrary to Schedule A, Part II, Section 6, subsection (1) he failed to maintain a valid policy of errors and omissions insurance; and
b. contrary to Schedule A, Part II, Section 6, subsection (2) he failed to immediately notify Council of cancellation or non-renewal of his errors and omissions insurance.
2. The breach occurred when he allowed his errors and omissions insurance certificate No. PRL004224_R through American Home Assurance Company to lapse on April 1, 2009.
3. He was without errors and omission insurance until June 29, 2009 when his Life including Accident and Sickness licence was suspended.
4. He was without errors and omissions insurance for 90 days. 5. His rights to appear before a Discipline Committee of Council have been explained to him and he fully understands his rights and/or obligations under Council Bylaw 10;
6. He waives his rights to appear before a Discipline Committee and undertakes not to exercise any appeal rights he may have under Council Bylaw 10, Section 3 or The Saskatchewan Insurance Act, (the Act) as it relates to matters set out in this agreement and undertaking.
7. He has been advised by The Committee that it is in his interests to obtain independent legal advice before entering into this consensual agreement and undertaking
Consensual Agreement and Undertaking Page 2 Cunningham having waived his rights undertakes to: 1. Pay a fine in the amount of $355.00; and 2. Reimburse Council’s investigation costs in the amount of $220.00. The Committee’s Agreement: 1. The Committee agrees to accept from Cunningham the payment of $575.00 as full and final resolution of his violation of Council’s Bylaws; and
2. The Committee further agrees to take no further action against Cunningham for the acknowledged violations of Council’s Bylaws that are set out in this agreement.
Dated at Regina, in the Province of Saskatchewan, this 10 day of May, 2010. Originally signed by: __________________________________________________________ Rodney Lyle Cunningham
Dated at Regina, in the Province of Saskatchewan, this 12 day of May, 2010. Originally signed by: _____________________________________________________ Kelly Aikens, Chairman, Complaints and Investigation Committee Life Insurance Council of Saskatchewan