Getting a LicenceIndividual LicencesNew ApplicantsLevel 1 Licensing

Level 1 Licensing

 

An insurance broker helps clients navigate the often-complex world of insurance by finding the most suitable coverage for their needs. From auto and travel to home and commercial insurance, brokers act as intermediaries between customers and insurance companies, ensuring clients receive the best coverage for their insurance needs.

In Ontario, insurance brokers that sell general insurance (often referred to as property and casualty insurance) must be licensed through the Registered Insurance Brokers of Ontario (RIBO), which regulates and oversees the profession. RIBO ensures that brokers meet professional standards, follow regulations, and provide reliable service to consumers.

Becoming an insurance broker is a rewarding career offering job stability, flexibility, and opportunities for growth. In Ontario, the Financial Services Regulatory Authority of Ontario (FSRA) licenses insurance agents that typically can only arrange coverage with a single insurance company.

To become an entry-level insurance broker in Ontario, also known as a RIBO Level 1 Licensee, follow these general steps:

  1. Pass the required exam.
  2. Secure a job with a RIBO-registered brokerage.
  3. Meet eligibility and suitability requirements for licensees, including completing a criminal background check.
  4. Apply for your RIBO Level 1 licence.
  5. Pay your licence registration fee.
  6. Maintain your licence by renewing it each year.

1. Level 1 – Entry-Level Broker Exam

The Level 1 Exam is designed for individuals new to insurance. You can take the exam online or in person. RIBO exams are administered by only two approved exam service providers: the Insurance Brokers Association of Ontario (IBAO) and the Insurance Institute of Canada (IIC). For more information on the exam, view the Level 1 – Entry-Level Broker Exam.

2. Licensees from Other Provinces or Other Experienced Individuals

If you have prior experience in insurance, hold a licence from another jurisdiction, or possess an insurance designation, you may qualify for an equivalency exam. Consult the Equivalency webpage to determine if you are eligible and learn how to apply for an exam. For current exam fees, see Application & Licence Fees.

Upon successfully passing the appropriate exam for you, you can proceed with your licence registration, subject to meeting the suitability requirements, as an insurance broker with a RIBO-registered brokerage firm. We strongly recommend checking the Registration Checklist before taking the exams. Candidates are responsible for verifying their eligibility for licensure prior to taking any exam.

Passing the exam does not guarantee licence eligibility, as additional background checks (including, but not limited to, criminal records and conflicts of interest with other licensing bodies) will be conducted during the formal licensing application process.

You will need to provide the following when applying for your licence:

  1. Government-Issued ID: To verify your identity.
  2. Criminal Record Check: A current (less than 60 days old) check is required.
  3. Employment Confirmation: You’ll need a job offer from a RIBO-registered brokerage in Ontario.
  4. Secondary Business Exemption Form: If applicable, for those with other businesses or employment (including volunteer activities). Please also see the RIBO Guidance 005 – Sole Occupation Requirement for Individual Licensees if you have another occupation.
  5. Bankruptcy or Court Documents: If applicable, submit any legal documentation.
  6. Licence Registration Fee

Note: You may hold a life and health or accident and sickness agent licence alongside a RIBO licence. However, licensing conflicts such as holding an adjuster, Other-Than-Life licence, real estate or mortgage broker licence will not be allowed. Failure to provide all necessary documents will delay the process.

Working as a Broker

Once licensed as a RIBO Level 1 Broker, you can begin your career as a broker. Here is what you should know after getting licensed:

  • Supervision by a Principal Broker: As a Level 1 broker, you will be required to act under the supervision of a Principal Broker, who will ensure that you comply with RIBO regulations and guidelines.
  • Employed by an Active Firm Licensee: You must be employed or sponsored by an Active Firm Licensee, which is a brokerage registered with RIBO.

Continuing Education (CE)

To maintain your licence, RIBO requires you to complete Continuing Education (CE) credits annually. These credits ensure you stay updated with industry standards and regulations. For more information on the specific CE requirements, visit RIBO’s Continuing Education webpage.

Licence Renewal

Your RIBO licence must be renewed annually to remain active. Licence renewal requires completing the renewal form, submitting CE credits and the payment of renewal fees. To learn more about the renewal process and deadlines, visit the Renewing Your Licence webpage.

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