Before completing and applying for an amalgamation, you must use the below checklist form to ensure you have everything needed before proceeding.
Existing licensees can use the below form to update their insurance business registration following an amalgamation of two or more business entities. (if the amalgamation involves five or more RIBO licensed entities, please email licensing@ribo.com).
All applicable questions must be answered. If there are no changes to items following the amalgamation, please note this, where applicable.
It is an offence under the Registered Insurance Brokers Act to knowingly make a false representation or declaration on this and/or the attachments and doing so may be sufficient grounds under the Registered Insurance Brokers Act to reject the application or revoke a license.
The information provided in the form is privileged and confidential, pursuant to Section 26 of the Registered Insurance Brokers Act.
4) If the corporation will be holding premiums for Ontario business in a Trust Account outside of Ontario, an application must be made to Council (Qualifications & Registration Committee), for an exemption to do so, as per Regulation 991: 16.2 and 16.3. a. An Out of Province Trust Application must be attached to your application, and a copy of a cheque or bank letter/statement will be required for the exempted trust account. The cheque or bank account information document should bear the firm’s name and the words ‘trust account’ should be imprinted on the cheque.
6) Please download and fill out the Brokerage Amalgamation Template. You will be asked to submit a completed copy of the template.
After filling out the checklist form, you can proceed to the amalgamation form.