Can RIBO find an insurance broker for me?

RIBO does not provide a referral service. However, most insurance brokers are listed in the yellow pages of your telephone book. Alternatively, if you know the name of the insurance company you wish to insure with, you may want to call the marketing department of the insurance company, who can refer you to a local representative.

If you want to confirm a broker’s registration, we have included a broker database on-line. If you have any questions concerning a broker’s registration, feel free to contact RIBO by phone or fax.

How do I file a complaint against my broker?

If you wish to ask a question or discuss an issue prior to submitting a complaint, you may contact RIBO’s Consumer Complaints Officer at (416) 365-1900 or 1-800-265-3097 or by e-mail to complaints@ribo.com.

However, all formal complaints must be submitted in writing to RIBO’s Consumer Complaints Officer.

Can RIBO assist me in obtaining a settlement for my insurance claim?

Every insurance company uses claims adjuster(s) to settle claims. RIBO does not regulate insurance companies or adjusters so we cannot assist in problems related to claims. Please contact the Financial Services Commission of Ontario (FSCO) for further information pertaining to claims.

Can RIBO help me to get a refund of premium?

RIBO can assist you in obtaining a refund of premium on your insurance in some situations. The following documents should be submitted to the Consumer Complaints Officer:

  • a copy of your insurance policy
  • proof of payment of the insurance premium and
  • a brief outline of the situation

Can RIBO help me with a complaint against my insurance company?

RIBO only has authority over the actions of insurance brokers regarding the sale of insurance. A complaint against your insurance company should be directed to the Financial Services Commission of Ontario.

My broker made a mistake in quoting my insurance premium. Can RIBO assist me in obligating the broker to this original quotation?

Unfortunately, the broker’s quotation is an estimate of the premium subject to the acceptance by the insurance company. The quote is not firm or binding until the insurance policy is issued by the insurance company. If the broker makes an honest mistake when providing a quotation to a consumer, they are allowed to modify the premium and charge an additional amount. If the consumer determines that they want to cancel the insurance due to this increased premium, it would be in their best interest to request a pro rata cancellation based on the premium quoted. This will help to avoid any cancellation penalties.

Any complaint that the broker’s error was due to misconduct and not an honest mistake will be investigated by RIBO.