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Fraud, Errors and other Irregularities Meaning of the term 'significant'

BR-2.2.8

An insurance licenseeG must notify the CBB immediately if one of the following events arises and the event is significant:

(a) It becomes aware that an employeeG may have committed a fraud against one of its customersG ;
(b) It becomes aware that a person, whether or not employed by it, is acting with intent to commit fraud against it;
(c) It identifies irregularities in its accounting or other records, whether or not there is evidence of fraud;
(d) It suspects that one of its employeesG may be guilty of serious misconduct concerning his honesty or integrity and which is connected with the insurance licensee'sG regulated or ancillary activities; or
(e) Conflicts of interest.
Amended: April 2010
Amended: October 2007
Amended: January 2007
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Fraud, Errors and other Irregularities Meaning of the term 'significant'
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