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RIBO
Why RIBO is updating its entry level broker exam
October 6, 2023 by Alyssa DiSabatinoRegistered Insurance Brokers of Ontario (RIBO) is enhancing the standards for becoming a licensed insurance broker in Ontario by making changes to its entry-level exam. The move is part of the regulator’s ongoing efforts to ensure new brokers better understand…
Broker regulator outlines approach to MGA licensing
June 12, 2023 by Jason ContantOntario’s broker self-regulatory body is looking at its licensing exams with a stronger focus on commercial lines and MGAs, Registered Insurance Brokers of Ontario (RIBO) CEO Patrick Ballantyne said last week during an industry event. “Those exams are currently under…
Why RIBO’s considering a harmonized standard for broker licensing, and MGA carve-out
October 4, 2022 by Jason ContantThe Registered Insurance Brokers of Ontario (RIBO) is working with the Canadian Insurance Services Regulatory Organizations (CISRO) to review property & casualty agent and broker education and training requirements to make recommendations regarding a harmonized standard. This could take the…
What CISRO’s conduct principles mean for brokers
May 12, 2022 by Alyssa DiSabatinoCanadian Insurance Services Regulatory Organizations (CISRO) has recently published the Principles of Conduct for Insurance Intermediaries, intended to help ensure the fair treatment of P&C consumers — and the Ontario regulator predicts broker compliance will be high. Many of…
RIBO’s newest board member
April 21, 2022 by Jason ContantRegistered Insurance Brokers of Ontario (RIBO) has appointed Melissa Bajwa to its board. Bajwa is currently the vice president of compliance and broker network operations with PROLINK, one of the largest independent brokerages in Canada. She joined PROLINK in 2016…
Working from home? Careful with your client information
December 1, 2017 David Gambrill, Editor-in-ChiefBrokers need to be mindful of how they protect their clients’ information in the digital age, particularly when they transfer information to and from their office to work remotely from home. “We recognize that the digital era is upon us,…
Broker regulator working on ‘logistics’ of public hearings
November 30, 2017 Greg Meckbach, Associate EditorRegistered Insurance Brokers of Ontario officials are “giving some thought” to how they will make disciplinary committee hearings public, RIBO’s chief executive officer said Thursday. “Just because the hearings are required to be held in camera doesn’t mean that we…
Proposed law would make broker discipline hearings public
November 29, 2017 Greg Meckbach, Associate EditorA rule requiring disciplinary hearings of Ontario brokers be open to the public is currently included in the province’s budget implementation bill, which has yet to be passed. The Insurance Brokers Association of Ontario (IBAO) told Canadian Underwriter Wednesday it…
Getting younger people into broker channel as a career remains challenging: incoming IBAO president
September 6, 2017 Jason Contant, Online EditorGetting younger people to choose the broker channel as a career remains a challenge, the incoming president of the Insurance Brokers Association of Ontario (IBAO) told Canadian Underwriter in a recent interview. “In the high schools is where it really…
Unlicensed entity selling false proof of auto insurance: FSCO
April 5, 2017 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has issued a warning to consumers that an organization known as Switzerland Imperial Bank AG, or S I B AG Corporation, is not licensed to conduct insurance business in Ontario. “Switzerland Imperial Bank…
FSCO issues warning over mail scam conducted by unlicensed insurance company
February 10, 2017 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has issued a warning to consumers about a mail scam conducted involving an unlicensed insurance company called TD Insurance, Melohre Mannex. “Although this company may have a similar name to a licensed insurance company,…
RIBO overhauls spot check program to include consideration of conduct requirements, expectations: Hitchlock
November 10, 2016 Angela Stelmakowich, EditorThe Registered Insurance Brokers of Ontario (RIBO) has embarked on a major overhaul of its spot check program with the twin goals of promoting better consumer protection and improved broker risk management, says Norma Hitchlock, RIBO’s outgoing president. While the…