Consensual Agreement and Undertaking Between Glenn Alcantara Garalde
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.
Glenn Alcantara Garalde 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 Bylaw 2, Section 1, subsection (4(d)) he failed to immediately notify Council of the cancellation or non-renewal of his errors and omissions insurance.
2. The breach occurred when he allowed his errors and omissions insurance certificate No. 35581A to lapse on July 18 2013 and did not replace it until September 16 2013.
3. He was without errors and omissions insurance for approximately 60 days. 4. 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.
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)
Page 2 – Glenn Alcantara Garalde 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.
Having waived my rights, I, Glenn Alcantara Garalde undertake to: 1. Pay a fine of $264.00 plus cost of investigation of $330.00 for a total of $594.00. The Committee Agrees to: 1. accept payment of a fine of $264.00 plus cost of investigation of $330.00 for a total of $594.00; and
2. take no further action against Glenn Alcantara Garalde for the acknowledged violations of Council’s Bylaws or the Act that are set out in this Agreement.
Dated at Calgary, in the Province of Alberta, this 31st day of August 2014. Original Signed by Glenn Alcantara Garalde
Dated at Saskatoon, in the Province of Saskatchewan, this 24th day of November 2014. Original Signed by Ian Colborne, Chairman, Complaints and Investigation Committee Life Insurance Council of Saskatchewan