Ontario Regulation 991, Section 5 outlines the registration requirements for an individual. It states that the “only business or employment” of an individual be that of an insurance broker, or an insurance broker/life agent. The regulation also provides that the Qualification & Registration Committee (“QR Committee”) may grant exemptions from the “only business or employment.” This means that any other employment or business that is not of an insurance broker or a life agent requires an exemption from the QR Committee.
The primary purpose of the section is to prevent real or perceived opportunities for coercion and conflict of interest with respect to insurance consumers.
An application for a Secondary Business Exemption must be made to the QR Committee for any other business involvement or employment by submitting a letter of request and completing a secondary business exemption form. A letter from the Principal Broker outlining the qualifications of the individual and supporting the request for the exemption must accompany the application. An individual must be granted an exemption from the QR Committee prior to any involvement in a secondary occupation.
Any change of employment would require support from the Principal Broker of the hiring brokerage, and it must be submitted to RIBO.
To improve transparency and address common questions regarding the sole occupation requirement, the QR Committee has approved lists of QR Review Required & Incompatible Occupations and Approved Occupations.
The approved list of occupations will automatically be granted an exemption once the required application and paperwork are received and provided that:
If the occupation does not fall within the parameters set out, it will be referred to the QR Committee for additional review.
QR Review Required & Incompatible Occupations (including licensed occupations) must be referred for review by the QR Committee.
The Committee reviews each secondary occupation exemption request on the individual merits and facts of each individual request.
Certain occupations have been deemed to be an unmanageable conflict of interest and therefore incompatible with the insurance business profession. As such, these secondary business applications will be refused.
Please note, even in cases where the occupation is deemed “incompatible” with the insurance broker profession, licensees may still submit an application for consideration by the Committee.
Decisions will in no way be binding in the event of a similar occurrence and may be considered differently based on the facts and merits of the case including (but not limited to):
In all cases, whether you are newly licensed or have been a licensee for several decades, you must submit a secondary business exemption request to licensing@ribo.com before you begin your secondary occupation. Access the request form and see what supporting documents are required.
RIBO’s QR Committee has approved lists of approved occupations, as well as lists of incompatible occupations and occupations requiring QR review, to improve transparency and address common questions regarding the sole occupation requirement.
Once an individual submits the required secondary business exemption application and paperwork for other business(es) falling under the approved list of occupations, they will automatically be granted an exemption provided that:
If the occupation does not fall within the parameters set out by the QR Committee, it will be referred to the QR Committee for additional review.
Below are some industries and examples of approved occupations. (Some occupations may require conditions to be placed on the licence.) Other secondary occupation exemptions may still be approved by the Qualification & Registration Committee.
Below is a list of regulatory bodies along with their conditions and/or limitations.
QR Review Required & Incompatible Occupations must be referred for review by the QR Committee. The Committee reviews each secondary occupation exemption request on the individual merits and facts of each individual request.
Certain occupations have been deemed to be an unmanageable conflict of interest with RIBO licensing and the secondary business application will be refused. Please note, even in cases where the occupation is deemed to be an unmanageable conflict of interest, licensees may still submit an application for consideration by the Committee.
Below is a list showing industry/trade and examples of occupations that require QR Committee approval. Please note that this is not a comprehensive list, and any other occupations may require review by the Committee.
Finance
Health Care
Public Administration
Public Safety
Professional and Technical Service
Transportation/Automotive Businesses
Below is a list of regulatory bodies and licensed professions along with their RIBO licence conditions.
Canadian Investment Regulatory Organization
Chartered Professional Accountants of Ontario
College of Veterinarians of Ontario
Financial Services Regulatory Authority of Ontario
Ontario Association of Architects
Ontario College of Teachers
Ontario Motor Vehicle Industry Council
Ontario Securities Commission
Professional Engineers Ontario
Red Seal Trades (Category 2)
Real Estate Council of Ontario
Regulated Health Professions (Category 2)
RIBO recognizes that volunteerism serves an important role in connecting licensees to their communities, promoting self-fulfillment, and building trust in the insurance industry. To not discourage volunteerism, RIBO does not require licensees to request secondary business exemptions for most unpaid and paid volunteer activities.
This does not reduce or eliminate a licensee’s duty to avoid and mitigate conflicts of interests as required by the section 7.14 and 7.14(1) Code of Conduct found in Regulation 991. Volunteering can create conflicts of interest between your duty as a licensed professional and the organizations you volunteer for.
Secondary business exemption requests would however still be required for individuals serving in board of director or officer roles (paid/unpaid) for the following types of corporations:
Principal Brokers are encouraged to develop policies and guidelines regarding volunteerism as part of their supervisory functions to manage any potential conflicts of interest. The Code of Conduct is an excellent resource to review as you develop your policies as it outlines your responsibilities as a licensee.
The following sections are the most relevant resources as it relates to another business or occupation, including volunteering:
Insurance brokers may be asked or want to join a board of directors to bring the broker’s perspective and their expertise to discussions. This can create a conflict of interest as you have conflicting fiduciary duties to the brokerage and the organization that you are a board member of. If you serve on a board of directors for any organization, you may not directly sell insurance to that organization. Instead, you must either refer the organization to a different broker at your brokerage or to another brokerage to purchase insurance. This is not a conflict that can be managed through disclosures or other regulatory tools. If you have sold a policy to the organization and you currently serve on the board of directors, refer the client file to another broker at your brokerage at renewal.
Health College Approved Occupations
Category 1 regulated health professionals must self-attest they have disclosed that they have applied or have a RIBO licence to their regulator.
Health College
Red Seal Trades (Category 1) Approved Occupations
Red Seal Trades (Category 2) Occupations Requiring Q&R Approval
Guidance published on February 6, 2026.