October 31, 2013 Insurance Decisions and Freeze and cease trade orders

On October 18, 2013, the Bureau de décision et de révision (Bureau) approved an agreement whereby C. Audren inc. (Courtier d'Assurances, Insurance Broker) as well as the firm's owner and responsible officer, Claude Audren, undertook to pay administrative penalties totalling $22,000. In addition, the Bureau issued an order prohibiting Claude Audren from acting, directly or indirectly, as the responsible officer of a firm for a period of five years.

The decision is further to violations noted in the course of an inspection conducted by the Chambre de l'assurance de dommages. They pertained to the following issues: failure to complete and file its financial statements and income statements with the appropriate authorities since 2006, failure to carry out up-to-date accounting, failure to keep a register of commissions, failure to keep proper client records and failure to disclose business relationships to clients.