Insurance broker reprimanded and fined $2,500 for misappropriating premiums and making false statements.
The Licensee, an insurance broker, faced allegations of professional misconduct including depositing client premiums into his personal bank account, distributing unauthorized insurance flyers, making false statements to his employers, and breaching client confidentiality.
The Licensee pled guilty to the allegations and agreed to an Agreed Statement of Facts.
The Discipline Committee accepted a Joint Submission on Penalty, finding that it did not bring the administration of justice into disrepute, and ordered a reprimand and a $2,500 fine.