Notice of Election of Council Members
November 7, 2024
Notice is hereby given that the annual election of Council members will be held on Thursday, November 7, 2024, at which time three Council members are to be elected for a term of three years.
New Process for 2024
In alignment with RIBO’s new by-laws, adopted by membership at a Special Meeting of the Members on April 9, 2024, the process for running for Council has been changed for 2024.
Rather than publicly declaring one’s candidacy, the process now involves candidates submitting an application to the Governance and Nominations Committee for review, leading to selected candidates being recommended to the membership at the Annual General Meeting. Recommendations are based on objective criteria built upon on the skills and backgrounds needed to establish an effective, well-rounded, and representative Council.
The process is outlined in detail in the sections below.
Missed our information session on September 4, 2024?
Serving on Council is a tremendous opportunity to contribute to RIBO’s mandate of ensuring the public is protected in their interactions with insurance brokers. It is a rewarding experience and involves a significant commitment. If you are interested, we encourage you to put your name forward.
Click on a section to jump to it:
- RIBO’s Role
- Council’s Role
- Who can run for Council?
- How many vacancies on Council will be filled in November?
- What is involved?
- What is the time commitment?
- Are Council Members compensated?
- How to Run for Council
- Council Composition Matrix
- What makes for a good Council member?
- What makes for a good Council?
- Election Timeline
- Additional Information
RIBO’s Role
RIBO is the self-regulatory organization responsible for overseeing all licensed general insurance brokers in Ontario and protecting the public interest.
Our vision is a property and casualty insurance marketplace where consumers and brokers are well informed and protected, and where transactions are conducted fairly.
Our mission is to maintain a customer-centric regulated environment where brokers can provide informed guidance, responsive service, and foster confidence by protecting the interests of all Ontarians.
Our mandate is to protect and advocate on behalf of the Ontario public by regulating insurance transactions with brokers.
Council’s Role
RIBO is governed by a Council consisting of:
- Nine elected brokers, and
- Four public members appointed by the provincial government.
The Council acts as a board of directors supervising the management and affairs of the corporation and is responsible for setting policies and guidelines.
The role requires Council members to uphold and maintain RIBO’s core values and to ensure fair transactions between consumers and insurance brokers in Ontario.
As a Council member, you are required to act in the best interests of RIBO and its public protection mandate. In this role, you will not represent the firm you work for or promote personal interests.
Details about Council, eligibility, meetings, conflicts of interest, and protection of Council members can be found in By-Law No. 1, Articles 6 – 11.
Who can run for Council?
All RIBO licensees who are in good standing may submit nomination papers. Candidates should review the full criteria found in By-Law No. 1, Section 6.2.
Eligible applicants from all backgrounds and demographics are welcome to apply.
How many vacancies on Council will be filled in November?
There are three vacancies that will be filled in November 2024.
What is involved?
RIBO Council members are involved in:
- Setting the organization’s strategic direction
- Overseeing its progress and financial health
- Reviewing and approving policies and by-laws, and
- Serving on two or more committees.
What is the time commitment?
Two to four days a month is required for preparation and attendance of committee and Council meetings. Your total time commitment will depend on the committees you serve on.
Committee and Council meetings are generally held during regular business hours.
Typically, Council meetings are held in-person at the RIBO office in downtown Toronto, while Committee meetings are typically held online.
Council meetings can be attended online, when required, however in-person attendance is strongly preferred.
Brokers interested in running for election, are encouraged to discuss this time commitment with their employer prior to running for Council.
Are Council members compensated?
Council members are paid a per diem for time spent on committee and Council work. The rate is set annually by the Audit and Finance Committee at a level equal to that specified by the Ontario Government’s Agencies and Appointments Directive – Schedule B, Member rate for Part-Time appointees. In addition, Council members are reimbursed for necessary out-of-pocket expenses (including travel).
For more information, see Council Member Remuneration and Expense Policy.
How to Run for Council
Follow these steps when running for Council.
- Confirm you are eligible to run by referencing the eligibility criteria found in By-Law No. 1, Section 6.2.
- Prepare an online application including:
- A self-assessment against RIBO’s Composition Matrix
- A letter expressing your interest and what you have to offer
- An up-to-date resume.
- Completed Candidate Forms must be received by RIBO no later than 4:00 pm ET on Friday, September 20, 2024.
Applications will be reviewed for completeness, and candidates’ eligibility will be confirmed by RIBO staff. All complete and eligible applications will then be forwarded to the Governance and Nominations Committee for review.
A short list of candidates will be invited to participate in an interview with the Committee the week of September 30.
The Committee will bring forward a recommended list of candidates for Council approval. If approved by Council, these candidates will be recommended to the membership at the Annual General Meeting.
All candidates will be notified of the outcome by October 11.
The recommended candidates will be posted on RIBO’s website by October 17, 2024.
Candidates not on the recommended list may wish to consider their options under By-Law No. 2, Article 2.5.
This new process was created in an effort to balance the skills and achieve a broad range of personal and professional experiences on Council. Not being recommended does not necessarily represent a lack of qualifications, it may simply mean that a candidate’s skills and experience are already represented on Council, and they could be recommended as a Council member at a future date.
Those considering running for Council are invited to register to attend the information session to learn more about what is involved in being a Council member, the new process, and to have questions answered. The session will be held live on Wednesday, September 4, 2024 at 2:00 pm ET.
A recording of the session will be available on this page after the information session has finished.
Council Composition Matrix
The Composition Matrix highlights the desirable personal attributes each Council member should possess and the collective skills and experiences that should be reflected on Council to best support its public protection mandate. This includes the goal of reflecting both individual and professional diversity.
What makes for a good Council member?
Council has identified five critical attributes that all Council members should possess. If you have most or all of these, we encourage you to consider running for Council.
To round out Council this year, in addition to the skills outlined in the table below, we are looking for individuals with experience in at least one of the following areas:
- Working in a small brokerage or Managing General Agency
- Advising and selling personal insurance
- Working closely with day-to-day brokerage activities including overseeing processes, training and/or overseeing junior brokers.
| Category | Criteria |
| Leadership | – Possesses experience-driven perspective, sound judgement, and ability to engage with others – Adept at promoting and guiding vison and change – Demonstrates integrity and respect |
| Strategic Thinker | – Generates and applies unique insights to challenges and opportunities – Able to challenge conventional thinking, create vision and encourage innovation |
| Communicator and Influencer | – Expresses thoughts and ideas clearly and honestly – Listens actively and respects other opinions – Collaborates in the best interest of Council and RIBO stakeholders – Seeks to understand and resolve issues positively – Actively promotes the interests of the public, consumer and RIBO stakeholders |
| Fiduciary Responsibility | – Acts in the best interest of the public to support RIBO in fulfilling its mandate without conflict of interest |
| Committed to Active Participation | – Demonstrates a willingness and ability to provide the necessary time and effort to be a fully active Council member, including taking the time to prepare for, attend and engage in Council and Committee meetings. |
What makes for a good Council?
A key attribute of a good Council is diversity of thought, experience, and background, along with the full range of skills required to guide the organization.
Council’s role is broad and requires various skill sets and experiences that lead to rich discussion, meaningful direction, and knowledgeable oversight.
To support this goal, Council has developed the following criteria, which identifies the skills that Council should possess as a group.
It is not expected that each member of Council possesses all these skills and experiences individually, but that all these skills are represented collectively amongst the 13 members of Council.
| Category | Criteria |
| Executive Leadership | – Experience as a president, chief executive officer, or as a senior leader of an organization at least similar in size to RIBO – Demonstrated success with developing and implementing a big-picture strategic vision |
| Brokerage Operations | – Direct knowledge of the day-to-day operations of a general insurance brokerage in Ontario, including one or more of the following: Brick and mortar brokerage, Digital brokerage, Wholesaler, or Managing General Agent. – Possesses knowledge of personal lines and commercial-focused brokerage |
| Governance and Policy | – Experience and expertise serving on a board of directors |
| Finance and Audit | – Experience and expertise related to financial reporting and analysis |
| Professional Self- Regulation | – Experience serving on a board, committee, or working for a self-regulated organization, and/or professional association, preferably with a focus on consumer protection and experiences and/or a global view of the organization |
| Business Acumen and Management | – Demonstrated good business judgement and history of achievement, with a strong understanding of consumer experiences – Experience in one or more business disciplines such as human resources, communications, marketing, people management, consulting, technology, performance management or risk management |
| Strategic Planning | – Experience developing strategy and overseeing implementation in an organization at least similar in complexity to RIBO |
Election Timeline
August 1, 2024
- Nomination period begins
September 4, 2024
- (Attendance optional) information session at 2:00 pm ET for those considering running for Council.
September 20, 2024
- Deadline to submit nomination packages is 4:00 pm ET
September 30 – October 4, 2024
- Interviews with selected candidates
October 17, 2024
- Recommended candidates posted online
November 7, 2024
- Annual General Meeting
- If there are more candidates than vacancies, a poll will be taken.
- Otherwise, the recommended candidates will be adopted through a motion.
Additional Information
For more information, contact Mark Abraham, Director of Finance & Corporate Services, Treasurer and Corporate Secretary, at mark@ribo.com.