The ribo license is an essential credential for insurance brokers working in the province of Ontario. Regulated by the Registered Insurance Brokers of Ontario (RIBO), a RIBO license allows you to provide insurance services under the supervision of a senior insurance broker. RIBO license holders are also obligated to complete RIBO-accredited continuing education courses and adhere to RIBO’s code of conduct.
RIBO is making a few changes to its licensing process in order to improve the quality of insurance professionals. This includes the launch of a new competency profile, a refreshed Level 1 exam, and a revised academic integrity policy. In addition, RIBO is collaborating with its exam service providers to pilot new exam questions in November and will use the results of this testing to update the exams starting in January 2024.
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A RIBO license allows you to work as a general insurance broker in the province of Ontario. This means that you can sell car, home, commercial, and liability insurance. However, a RIBO license does not allow you to sell life or health insurance, which requires an LLQP license. Unlike agents who are employed by one insurance company, brokers are able to shop policies from multiple insurers and can offer independent expert advice to their clients. This makes a RIBO license a great option for people who are considering a career in the insurance industry.