On 12 January 2022, A former technical representative of a broker company, Mr Ma assisted a client to purchase professional liability and compensation insurance. Mr Ma obtained a quotation from an insurer for the insurance. He claimed the client accepted the quotation and that the insurer was informed about it. However, the insurer confirmed that it had not received any response to its quotation. Mr Ma then took matters into his own hands by altering an existing certificate of insurance issued by the same insurer, to fabricate a certificate of insurance for the client’s professional liability and employees’ compensation insurance.
The fabricated certificate of insurance gave the client a false impression that it had a valid insurance policy, when this was not the case. The representative of the broker insurance company, exposed the client to the risk of incurring financial liability without insurance in place to cover such liability and also potential criminal prosecution for not having a valid employee compensation insurance policy.
Fabrication of an insurance document is a serious misconduct that carries with it potential criminal implications. The IA has zero tolerance for document fabrication and will not hesitate to impose severe disciplinary action to penalize and deter the occurrence of such misconduct. Certainly disciplinary action in the form of a lengthy ban, in the IA’s view, is justified.