Selling Insurance Licensing Requirements in Other Jurisdictions
The Registered Insurance Brokers Act requires RIBO licensing for any person who for any compensation, commission or other thing of value, with respect to persons or property in Ontario, deals directly with the public and among other activities defined in the legislation “acts or aids in any manner in soliciting, negotiating or procuring the making of any contract of insurance or reinsurance whether or not the person has agreements with insurers allowing the person to bind coverage and countersign insurance documents on behalf of insurers”.
Jurisdictions may vary on their licensing requirements when writing business for a client’s secondary home or business location. You should always check with the local regulator of that jurisdiction to determine what type of licensing may be required. A list of regulators may be found here: https://www.cisro-ocra.com/ListofCISROmembers
Jurisdictions may vary on their licensing requirements when writing business for a client’s secondary home or business location. You should always check with the local regulator of that jurisdiction to determine what type of licensing may be required. A list of regulators may be found here: https://www.cisro-ocra.com/ListofCISROmembers
Updated on: 20/12/2023
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