Consensual Agreement and Undertaking Between Scott Andrew Boyle and The Complaints and Investigation Committee of The Life Insurance Council of Saskatchewan (the Committee)
The Committee is authorized under Bylaw 7, Section 5, subsection 3, subparagraph (b), to enter into consensual resolutions of complaints.
The Committee is required under Bylaw 5, Section 1, subsection 1 to record on the register the existence of all disciplinary decisions or orders, court orders of suspension, alternative dispute resolution agreements, undertaking and mediation agreements in accordance with council policy. Disciplinary actions as described above are reported in the Bulletin published by the Insurance Councils of Saskatchewan.
Scott Andrew Boyle (Boyle) 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.
b. contrary to Bylaw 2, Section 1, subsection (4(d)) he failed to notify Council within 30 days of the cancellation or non-renewal of his errors and omissions insurance.
2. The breach occurred when he allowed his errors and omissions insurance (E&O) to lapse effective Aug. 01 2011 and did not replace his E&O until Aug.22 2011.
3. He was without E&O coverage for 22 days. 4. He 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.
5. 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 consensual agreement and undertaking (Agreement).
6. This Agreement does not preclude the Committee from pursuing any other investigation against him for activities not identified in this Agreement that may be in violation of Council Bylaws or the Act.
7. He has been advised by the Committee that it is in his interests to obtain independent legal advice before entering into this Agreement.
Boyle having waived his rights undertakes to: 1. Pay a fine in the amount of $225.00; a. The fine consists of: i. the per diem cost of the E&O multiplied by the 22 days he was without E&O plus 20% of the annual E&O premium had it been in force.
2. Reimburse Council’s investigation costs in the amount of $330.00. The Committee’s Agreement: 1. The Committee agrees to accept from Boyle as full and final resolution to the acknowledged violations of Council Bylaws as set out in this Agreement the following: a. payment of $555.00;
Dated at Sherwood Park, in the Province of Alberta, this 21 day of August, 2013. Originally signed by: __________________________________________________________ Scott Andrew Boyle
Dated at Saskatoon, in the Province of Saskatchewan, this day of July 2013. Originally signed by: _________________________________________________________ Ian Colborne, Chairman, Complaints and Investigation Committee Life Insurance Council of Saskatchewan