FSRA blocks license renewal of insurance agent
FSRA blocks license renewal of insurance agent | Insurance Business Canada
Life & Health
FSRA blocks license renewal of insurance agent
It found fake certificates submitted as part of the application
Life & Health
By
Terry Gangcuangco
The Financial Services Regulatory Authority of Ontario (FSRA) has denied the renewal of Sandy Leigh Ulrich’s life insurance and accident and sickness insurance agent licence.
FSRA said Ulrich provided false information in her license application, engaged in fraud by purchasing and submitting fraudulent certificates to the regulator, and demonstrated untrustworthiness in conducting insurance agency business.
The decision followed an April 11 ruling by the Financial Services Tribunal, which instructed FSRA to enforce the Notice of Proposal (NOP) to refuse to renew without any modifications.
In its NOP, the regulator said: “She represented that she had completed the required education credits even though she had not undertaken 30 hours of continuing education.
“Ulrich committed a fraudulent act or practice by submitting five continuing education certificates without completing the continuing education.
“Ulrich knew that she obtained fraudulent certificates and coordinated with [an individual named Michael Rutledge] in an attempt to deceive the regulator.”
The FSRA stated that Ulrich is not suitable to be licensed.
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