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ARTICLE · 17 APRIL 2018

What Happens In Vegas … May Be Misconduct For A RIBO Broker

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On Tuesday, the Registered Insurance Brokers of Ontario (RIBO) released a notice to its members and stakeholders regarding changes to the Registered Insurance Brokers Act (RIB Act) ...

CanadaInsurance
Laurie LaPalme
Laurie LaPalme
Marisa Coggin
Marisa Coggin
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On Tuesday, the Registered Insurance Brokers of Ontario (RIBO) released a notice to its members and stakeholders regarding changes to the Registered Insurance Brokers Act (RIB Act) and Regulation 991 under the RIB Act (the Regulation). RIBO is the self-regulatory body governing insurance brokers in Ontario. RIBO had submitted its proposed amendments to the RIB Act and the Regulation to the Ontario Ministry of Finance with the overarching goals of modernizing the legislation, increasing transparency and enhancing consumer protection. The amendments to the RIB Act came into effect on December 14, 2017, and the amendments to Regulation will be effective July 1, 2018.

The RIB Act and the Regulation regulate the activities of insurance brokers in Ontario and set out a standard of professional conduct for registered insurance brokers in Ontario. Individuals, partnerships or corporate registered under the RIB Act to carry on business as insurance brokers in Ontario are

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