Errors And Omissions / Fidelity Bond - Registered Insurance Brokers of Ontario (RIBO) - Ontario's regulator of general insurance brokers"

Firms are to provide copies, at policy renewal, of all certificates of mandatory insurance to satisfy the following minimum requirements:

(a) Professional Errors and Omissions Liability insurance of at least $3 million per claim, $6 million aggregate

(b) Fidelity Bond of at least $100,000 per claim.

The policies must be underwritten by insurers licensed in the Province of Ontario and must indicate they are subject to special RIBO endorsements. It is the Broker’s responsibility to ensure that the requisite insurance coverages are maintained and that renewal or continuation certificates are provided to RIBO each year.

Please fill out the form below to confirm that your brokerage has satisfied these requirements

Contact Info

Brokerage/MGA/Wholesaler Name:(Required)

RIBO License (Number Only):(Required)

Are you the Principal Broker?(Required)

What is Your Name?(Required)

First Last

What is your role?(Required)

Your Email(Required)

Principal Broker Name:(Required)

First Last

Principal Broker License Number(Required)

Principal Broker Email(Required)

Are you submitting proof of Errors & Omissions coverage or Fidelity Bond?(Required)

Errors & Omissions

Please confirm the following criteria have been met by your Errors & Omissions insurance policy:

Aggregate Limit ($6 million minimum):(Required)

Yes

Policy Limit per Claim ($3 million minimum):(Required)

Yes

Deductible Amount(Required)

RIBO endorsement in place(Required)

Yes

Policy Start Date(Required)

Policy Expiry Date(Required)

Name(s) of FSRA Licensed insurer(s) on policy(Required)

Hidden

Name of FSRA Licensed insurer on policy(Required)

Aggregate Limit(Required)

Policy Limit Per Claim(Required)

Policy No:(Required)

Please upload your certificate of insurance and policy wordings(Required)

Max. file size: 256 MB.

Please upload any other relevant documents

Max. file size: 256 MB.

Fidelity Bond

Please confirm the following criteria have been met by your Fidelity Bond:

Policy Limit Per Claim of $100,000 minimum(Required)

Yes

RIBO endorsement in place(Required)

Yes

Deductible amount:(Required)

Policy Start Date(Required)

Policy Expiry Date(Required)

Name(s) of FSRA Licensed insurer(s) on policy(Required)

Hidden

Name of FSRA Licensed insurer on policy(Required)

Please upload your certificate of insurance and policy wordings(Required)

Max. file size: 256 MB.

Please upload any other relevant documents

Max. file size: 256 MB.

Confirmation

By clicking "Yes" below, I understand and acknowledge that the bi-annual filings of the Form 1 Position Report for the firm must indicate Equity in the business of at least $5,000 or a higher amount of equity as is required to equal the SUM of the combined deductible amounts applying to the Errors and Omissions and the Fidelity bond policies which must be in place at all times.

Yes

E & O Fidelity

Contact Info

Errors & Omissions

Fidelity Bond

Confirmation