How to Become Registered as a Broker

The individual must meet the "qualifications" outlined in Section 5 of Ontario Regulation 991 of the RIB Act. This includes, but is not limited to:

  1. Passing the Entry Level examination
  2. Satisfying the "only business or employment" requirement;
  3. Employment with a RIBO registered general insurance brokerage firm. Employment (sponsorship) is not required to write the examination but is a requirement for registration.

It is suggested that all those planning to write the examination review carefully the Standards for "Acting Under Supervision".

Individuals who pass the examination and are otherwise "qualified" will be sent an Employment Letter form attached to their passing letter. This form must be completed and signed by the Principal Broker of the brokerage and returned to RIBO with the required registration fee.

The annual registration fee (currently $160.00 and subject to change without notice) covers the period from October 1st to September 30th. New registrations processed during the months of July, August and September are required to pay 50% of the current annual registration fee plus the full annual renewal fee (thus total fees required is currently $240.00). The certificate of registration will expire September 30th of the following year. Otherwise no reduction is allowed for part of a year. Fees are not refundable in whole or in part.

Registration must be completed within twelve (12) months from the date of successful completion of the examination. If registration does not occur within twelve (12) months, the applicant will be required to write the examination again. We regret there are no extensions.

Individuals who have a Shell or Tax Corporation set up to receive commissions for tax purposes only must also register the corporation with RIBO as a "Non-Active Member Firm". The registration fee for the non-active firm is the same as it is for an individual registration.

Once registered, all licensed insurance brokers must comply with RIBO continuing education requirements.

Individuals who have passed the examination but who have not registered and not received their certificate of registration CAN NOT hold themself out as or act in the capacity of a broker. Acting as a broker without a certificate of registration will result in your file being reviewed by the Qualification and Registration Committee and may jeopardize your eligibility for licencing.

Restrictions on Registration

Acting Under Supervision

Upon completion of the Entry Level examination, an individual is registered with the restriction of "Acting Under Supervision". A broker who is restricted to "Acting Under Supervision" cannot control trust funds, act as a "Principal Broker", or operate as a sole proprietor.

New registrants are restricted to "General Insurance Other Than Accident & Sickness" (RIBO Regulation By-law Section 15.4). Accident & Sickness insurance is most commonly included as part of a Life Insurance Agent's License (from the Financial Services Commission of Ontario). The Commission has a specific Accident & Sickness examination. The Accident & Sickness restriction can be removed from a RIBO registration by submitting a copy of a current life license including Accident & Sickness or evidence of passing the Accident & Sickness examination.

Also, new registrants who pass the current Entry level examination with a minimum of 60% in the Travel Health section of the examination may sell Travel Health Insurance. Individuals who are not successful may write a separate Travel Health examination.

The restriction of "Acting Under Supervision" can be removed by passing the second level of examinations, the "Unrestricted - Technical Only" and the "Unrestricted - Management Skills".