Consensual Agreement and Undertaking Between The Complaints and Investigation Committee of the General Insurance Council of Saskatchewan and The Complaints and Investigation Committee of the Life Insurance Council of Saskatchewan
and Grant Frank Ostir Grant Frank Ostir (Ostir) acknowledges and agrees that: 1. He violated the General Insurance Council of Saskatchewan (the GICS) Bylaw's when:
a. contrary to Bylaw 2, Section 1, subsection 4(c)(ii) Ostir failed to notify the GICS within 30 days of the commencement of any professional, occupational or regulatory body proceedings involving the licensee; and
b. contrary to Bylaw 8, Section 2, subsection (d) Ostir made a material misstatement on his 2012 ARF signed by him on March 26, 2012 by not disclosing the regulatory action taken by the Insurance Council of Manitoba in February 2012.
2. He violated the Life Insurance Council of Saskatchewan (the LICS) Bylaw's when: a. contrary to Bylaw 2, Section 1, subsection 4(c)(ii) Ostir failed to notify the LICS within 30 days of the commencement of any professional, occupational or regulatory body proceedings involving the licensee; and
b. contrary to Bylaw 8, Section 2, subsection (d) Ostir made a material misstatement when: i. he indicated on his 2011 ARF signed by him on July 11, 2011 that he was compliant with the continuing education requirements in his resident jurisdiction; and ii. he indicated on his 2012 ARF signed by him on June 28, 2012 did not disclose the regulatory action taken by the Insurance Council of Manitoba in February 2012.
3. His rights to appear before a Discipline Committee of the GICS and/or the LICS have been explained to him and he fully understands his rights and obligations under the GICS and the LICS Bylaw 10.
4. He waives his rights to appear before a Discipline Committee of the GICS and/or the LICS and undertakes not to exercise any appeal rights he may have under the
Page 2 - Grant Frank Ostir GICS or the LICS Bylaw 10, Section 3 or The Saskatchewan Insurance Act (the Act), Section 466.1 (7.1), as it relates to matters set out in this Agreement.
5. He has been advised by the GICS and the LICS Committee's that it is in his interests to obtain independent legal advice before entering into this Agreement.
6. This Agreement does not preclude the GICS or the LICS Committee's from pursuing any other investigation against Ostir for activities not identified in this Agreement that may be in violation of GICS and/or LICS Bylaws or the Act.
Ostir having waived his rights undertakes to: 7. Pay a fine in the amount of $500.00 for contravention of Bylaw 8 Section 2(g)of the GICS and LICS;
8. Pay a fine in the amount of $750.00 for contravention of the GICS and LICS 2(d); and
9. Reimburse the GICS and the LICS Committee's for investigation costs in the amount of $440.00
The Committee’s Agreement: 10. The GICS and the LICS Committee's agree to accept as full and final resolution to the acknowledged violations of the GICS and LICS Bylaw's as set out in this Agreement the following:
a. payment to the GICS and the LICS fines in the total amount of $1,25.00; and b. payment of the GICS and LICS Committee's investigation costs in the total amount of $44.00.
Dated at Winnipeg, in the Province Manitoba, this 7 day of August, 2012 Originally signed by: Grant Frank Ostir Dated at Saskatoon, in the Province of Saskatchewan, this 13 day of August, 2012 Originally signed by: Dave Prociuk, Chair, Complaints and Investigation Committee General Insurance Council of Saskatchewan
Originally signed by: Ian Colborne, Chair, Complaints and Investigation Committee Life Insurance Council of Saskatchewan