The Agent and the Criminal Code
There are three sections of the Criminal Code of Canada which are especially relevant for agents:
- Forgery (section 366)
- Fraud (section 380)
- Theft (section 322)
Forgery (section 366)
Forging an applicant’s signature on a life insurance document
- e.g., if applicant forgot to sign
Fraud (section 380)
Knowingly allowing the applicant to use false information in a bid to defraud the insurer
- e.g., smoker claims to be a nonsmoker
| Amount | Penalty |
|---|---|
| under $5,000 | 2 years in jail |
| $5,000 or more | 10 years in jail |
Theft (section 322)
Diverting premium payments for personal use
| Amount | Penalty |
|---|---|
| under $5,000 | 2 years in jail |
| $5,000 or more | 10 years in jail |
page revision: 2, last edited: 10 Jun 2007 22:54