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President´s Message
Art Langley
I am honoured to have the opportunity to serve as RIBO President. I welcome the opportunity to work with Council in strengthening our profession while protecting the public interest. With so many changes and challenges affecting the way we do business, there is an increased need for effective leadership. I assure you that 2003 will be a very busy and exciting year for RIBO. This column provides me with the opportunity to say welcome and congratulations to a few new faces and to thank and wish the best of luck to some old friends of RIBO. I would like to congratulate Caroline Benedict and Byron Moffitt on their recent election to Council. I am sure that they will all make valuable contributions over the next three years, helping to guide our profession to a strong future. I wish them the very best in their new positions. I would also like to congratulate Jack Baizana on his reelection to the Board. At the same time I would like to say thank you to our retiring Directors, Art Despard and Lorie Guthrie Phair. Their dedication and experience will be missed. Our November 4th Annual General Meeting at the Grand Hotel was a success. It gave Council and staff members another chance to meet with its members, while at the same time providing members with the chance to ask questions and voice their concerns. For those who did not attend, a copy of Joanne Brown's speech can be found on page three. RIBO Council recently created a sub-committee to discuss the issue of brokers with limited market capacity. The sub-committee, which met for the first time at the end of November, is chaired by Past President Joanne Brown and consists of three brokers and two public members. The committee plans to meet with industry stakeholders including the IBAO, TIC and FSCO during this review. We will update you as developments occur. In the next few months, Council and senior staff will meet for the annual strategic planning session. Over a one-and-a-half day session, we will look for new ways to effectively guide and support our profession. The Spring Bulletin will provide you with a synopsis of our strategic planning session. I am excited about the year to come and know that as a team, Council and staff are committed to working hard in meeting its members needs. Happy Holidays to everyone and a prosperous New Year! 
 RIBO COUNCIL EXECUTIVE
Qualification and Registration Report
Rod FinlaysonChairperson I am very pleased to have the opportunity to serve as Chairperson of the Qualification and Registration Committee and I am looking forward to working on your behalf over the next 12 months. The rapid changes that are occurring in our industry will require this committee and Council to address some key issues. We will keep you updated on our progress through the Bulletin and our Website. It has been an extremely busy quarter in the Q & R Department. Staff report that the number of new applicants has increased significantly. We were pleased to see a drop in the number of follow-ups to individuals who had not completed their continuing education requirements. At the end of the process we suspended only 15 individual licenses. This year we lapsed three individuals for non-compliance of the 2000-01 continuing education requirement as opposed to 19 last term - a significant improvement. These three individuals will now be required to write the full entry-level examination should they wish to reapply for registration. I would like to remind Principal Brokers who allow producers to work from a separate location (including home-based locations) that RIBO by-laws requires them to be reported as branch locations and that a plan of supervision be filed. If you require more details on this, contact Vivian Lee or Lilian Croucher. Over the last three months we reviewed 73 requests for secondary-business exemptions. Forty-four individuals were granted exemptions to sell financial products, while 27 were granted other secondary occupations and two were refused secondary business exemptions. There was one refusal for waving the Unrestricted Management Exam. The individual has requested a hearing before the Q & R Committee to appeal the decision. On behalf of the Committee and staff, we wish you and yours a very happy and safe holiday season and a prosperous 2003.
Results Of The RIBO Election
November 4, 2002 Elected to Council:Jack Baizana Byron Moffitt Caroline Anne Benedict
Congratulations to our new members of Council!
Notice: Privacy Legislation
The Personal (Information Protection) and Electronic Documents Act (Federal Privacy Legislation) will apply to all business effective January 1, 2004 unless substantially similar legislation has been passes by the Province of Ontario prior to that date. We fully expect Ontario to have its privacy bill passed into law before that date. All brokerage firms in Ontario will be subject to its provisions regarding the collection, use and distribution of personal information. RIBO will highlight Ontario's privacy requirements in the Bulletin throughout 2003.
President´s Speech
RIBO´s Annual General Meeting
November 4, 2002
In November 2001, at the beginning of my term, we welcomed Rod Finlayson and Bonnie Warder as new Council members and Barry Downs returned to the Board. In the spring we were also fortunate to have one of our public members, Hassan Jaffer, re-appointed to the board for a second term by our lieutenant governor in council. Having new members brings fresh ideas and viewpoints to the council while returning members provide continuity and consistency. Unfortunately, welcoming new board members each November also means we must say goodbye to others. Two of our long-standing Directors, Art Despard and Lorie Guthrie Phair, have now completed their second three-year term on Council. Both Art and Lorie are Past Presidents of RIBO. Their dedication, experience and leadership will be sincerely missed. I would like to thank them both personally for the guidance they have offered me during my year as President. Council and staff recognize that communicating with our members is critical to RIBO's success as a self-regulatory body. Part of my responsibilities as President was attending industry events, functions and meetings across the province. I thoroughly enjoyed my opportunity to meet face-to-face with brokers and believe these meetings are tremendously important because they offer us the chance to learn and understand what issues are relevant to brokers in different regions of the province. An observation I made while traveling around the province was the positive profile that our CEO, Jeff Bear has established. There was a noticeable respect for RIBO and in addition brokers went out of their way to personally greet and welcome Jeff. This tells me that we have made RIBO easily accessible to the brokers and yet maintained the integrity of a regulatory board. Through individual conversations with brokers and calls to the RIBO office, it has become quite obvious that brokers are greatly affected by the rapid changes that are taking place in our industry and are nervous about the challenges that lie ahead. Our members are looking for direction and strong leadership and this is where I feel RIBO takes a leading role. I truly believe that brokers need to seriously reflect on whom they are electing to the RIBO council to ensure that we have strong knowledgeable people on the Council to direct us through the challenging future. We have been very fortunate to have some of the leaders in our industry on Council and we need to maintain this integrity. The collapse of Markham General Insurance last spring sent its' brokers scrambling to protect the interest of their clients and ensure that there were no gaps in coverage. I was pleased with the proactive role RIBO took on behalf of consumers by contacting and monitoring all Markham General brokers during this difficult time. Recently RIBO Council created a sub-committee to discuss the issue of brokers with limited market capacity. The sub-committee is made up of three brokers and two public members. The committee will meet with industry stakeholders including the IBAO, TIC and FSCO during this review. We need to be cautious on how we deal with this issue to ensure that whatever action is taken it will not negatively impact consumers. RIBO will be reviewing how the Privacy Act, which takes effect January 2004, will impact both brokers and the work that RIBO does. A great deal of work will be required to prepare us to ensure we are in compliance with the Act. On a positive note, we were happy to announce in our Spring Bulletin that RIBO and Quebec's la Chambre de l'Assurances de Dommages (ChAD) signed an agreement regarding the reciprocity of continuing education credits toward each jurisdiction's respective requirements. In the agreement both parties agreed that continuing education credits obtained in accordance with ChAd's requirements in Quebec will be accepted in Ontario toward compliance with RIBO's continuing education requirements, and vice versa on a reciprocal basis credit for credit. Once again we were pleased to announce in the Summer Bulletin that RIBO was in the financial position to offer an early payment discount off of the 2002-2003 registration fee. We were able to offer this discount largely as a result of maintaining efficient operations. A discount of $25 was given to all RIBO members, both individuals and firms, that renewed early. RIBO is constantly working towards improving and forging new relationships with government, insurance industry trade associations and other regulatory bodies. Strong working relationships with these bodies improves Council's comprehension of industry issues. These relationships also give us the ability to deal with the regulatory implications of the significant changes occurring in our industry. Speaking of regulatory boards and trade associations, I'd like to thank the Financial Services Commission of Ontario, (FSCO), the Insurance Brokers Association of Ontario (IBAO), the Toronto Insurance Conference, and the Insurance Brokers Association of Canada (IBAC) for their direction and support. RIBO held and attended various meetings with the Executives of IBAO and TIC throughout the year to discuss various topics affecting our industry. We coordinated several joint meetings, some of which included the Insurance Bureau of Canada regarding Critical Coverage Reporting. We look forward to meeting with FSCO's new CEO Bryan Davies later this fall. Under the direction of CEO Jeff Bear, RIBO staff continues to make every effort to provide helpful service to our members and the public. They are respectful of the authority granted to RIBO under the Act and continue to act responsibly in its application. I am confident that they will continue to deal with our members in this manner. Serving as President during RIBO's 20th anniversary year as a self-regulatory body has been most rewarding to me personally. All of us at RIBO are incredibly grateful for a special group of brokers dedicated to the concept of self-regulation. It is because of the hard work and effort of our founding fathers that the Registered Insurance Brokers Act came into effect on October 1, 1981. Although our industry has seen countless changes over the past few decades, the principles established for self-regulation and protecting the insuring public remain the same - to protect the interest of the public while guiding the profession. It now gives me great pleasure to publicly acknowledge one of our founding fathers, Don Lambie. Don has always been a strong proponent of self-regulation and devoted many years to the cause. We felt it was appropriate to honour Don, RIBO's first President. I would like to ask Don to step forward for a special presentation. (In recognition of his outstanding achievement to RIBO and the broker profession, Don Lambie was presented with a plaque to commemorate the Donald W. Lambie Award to be presented annually hereafter to the candidate that achieves the highest marks on the initial RIBO qualification examination.) In closing, I would like to thank my fellow council members and the RIBO staff for their support, wisdom and dedication during this past year. It has truly been a pleasure working with everyone.
Notice: Trust Accounts with ING Direct Banking
RIBO has received inquiries regarding whether a brokerage can maintain its trust accounts with the ING Direct Bank. This question was reviewed by the Administration and Finance Committee. ING Direct Bank confirmed to the Committee in writing that it does not presently offer "trust" accounts. ING's account is an ordinary chequing/savings account, regardless of whether or not it is called or designated an "in trust" account by a brokerage. These accounts would therefore be subject to seizure by the ordinary creditors of a brokerage, including trade creditors. Accordingly, upon the recommendation of the Administration and Finance Committee, the Council of RIBO is issuing this notice that any such account does not comply with RIBO regulations, for the protection of the public. ING Direct Bank did indicate they would consider offering a "trust" account in future. RIBO will update this issue as it develops.
DECISIONS OF THE DISCIPLINE COMMITTEE
CAUTION: While the information contained below is public, members should take caution that inappropriate use of this information may be considered to be an act of misconduct. Donna DurdleRegistration Number: R22069 Toronto, Ontario MISCONDUCT: Ont. Reg. 991, ss. 14(1)(3) PARTICULARS OF THE COMPLAINT
DISCIPLINE COMMITTEE'S DISPOSITION (09/26/02)
CONSENTS BEING RECEIVED IN THE FOLLOWING MATTERS, THE DISCIPLINE COMMITTEE MADE THE FOLLOWING ORDERS: Larry John TomchickRegistration Number: R16921 London, Ontario MISCONDUCT: Ont. Reg. 991, s. 14(1); s16(4) PARTICULARS OF THE COMPLAINT:
DISCIPLINE COMMITTEE'S DISPOSITION (09/26/02)
Registration Number: R20363 Toronto, Ontario MISCONDUCT: Ont. Reg. 991, s. 14(1) PARTICULARS OF THE COMPLAINT:
DISCIPLINE COMMITTEES DISPOSITION (09/26/02)
Registration Number: R07536 Richmond Hill, Ontario MISCONDUCT: Ont. Reg. 991, ss.14(1)(4) PARTICULARS OF THE COMPLAINT:
DISCIPLINE COMMITTEE'S DISPOSITION (09/26/02)
New Board Members
Caroline Anne Benedict, CAIB Caroline Benedict began her insurance career in 1994 at Hamilton, Ward & Cathers in Aylmer, Ontario. She has since relocated to PSA Insurance Services in Thornhill, Ontario.
Since joining PSA in 2000, she has been promoted to managing the independent business unit focusing on medium to large commercial accounts. She is the co-chair of the education committee at PSA and is known to be a team player within the brokerage.
Caroline mastered her CAIB designation in 2001 and is currently pursing her CPIB as the program unfolds. By joining RIBO council Caroline would like to bring her enthusiasm and energy to this venue. Byron Moffitt, CAIB, CIP Byron Moffitt is President of Erb and Erb Insurance Brokers Ltd., and is a member of IBAO and IBAWR. During his 22-year insurance career, he has earned the respect of insurance colleagues, business contacts and clients. He has consulted for senior management of several major insurance companies and worked on their business panels. Byron's community work includes Boards (BBB; K-W Accessibility) and services (United Way; Rotary). His integrity and fairness make Byron an ideal RIBO candidate. Byron looks forward to promoting high business standards and enhancing the broker profile with the public.
Addition & Deletions from the RIBO Register September 21, 2002 - December 3, 2002
Additions
Notice: Snowmobile Insurance
It has come to RIBO's attention that some Ontario residents that have purchased a Quebec trail pass package may have been advised in Quebec that the liability-only policy that comes with the trail pass package is valid insurance coverage in Ontario. We are currently reviewing this issue with the Financial Services Commission and will update our findings on the Website.
Notice: Terrorism Exclusion
RIBO recently learned that some insurers have added a "terrorism" exclusion on most of their policies, including homeowner's packages, without highlighting or otherwise bringing this change to the policy holder's attention (relying on the standard notice regarding limitations). Brokers are reminded that they must be aware of added limitation and should bring any such changes to their client's attention.
Members of Council - Registered Insurance Brokers of Ontario
Member Assistance Directory
RIBO Office: (416) 365-1900 or 1-800-265-3097 Fax: (416) 365-7664
P.O. Box 45, 401 Bay Street, Suite 1200, Simpson Tower, Toronto, ON M5H 2Y4 Receptionist - Madeline Ross General Manager - Jeff Bear (jeff@ribo.com) Secretary - Lise Clements (lise@ribo.com) ADMINISTRATION & FINANCE Manager - George Martin (george@ribo.com) Accounting & Data Supervisor Registration/Data Entry - Irene Chung (irene@ribo.com), Erica Lo (erica@ribo.com), Karla Poirier (karla@ribo.com), Valrie Bailey (valrie@ribo.com) COMPLAINTS & INVESTIGATIONS Manager - Tim Goff (tim@ribo.com) Complaints Officer - Sharon Bentley (sharon@ribo.com) Senior Investigators - Nadine Austin (nadine@ribo.com), Crystal Skyvington (crystal@ribo.com) Secretary - Angela Daley (angela@ribo.com) Co-ordinator - Diana Campoli (diana@ribo.com) Financial Investigators - Michael Buck (michael@ribo.com), Filomena Scampoli (filomena@ribo.com) CORPORATION LEGAL SERVICES In-house Legal Counsel - Bradley Nairn (bradley@ribo.com) Secretary - Angela Daley (angela@ribo.com) MARKETING & COMMUNICATIONS Communications Co-ordinator - Susan MacKenzie (susan@ribo.com) QUALIFICATION & REGISTRATION Manager - Lilian Croucher (lilian@ribo.com) Assistant - Vivian Lee (vivian@ribo.com) Secretary - Sonia Lyew Garcia (sonia@ribo.com) Clerk - Laurie Reynolds (laurie@ribo.com)
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