Continuing Education Requirements – RIBO
Key Regulatory Provision – ONTARIO REGULATION 991
5. (1) An individual is qualified to be issued and hold a certificate of registration as an insurance broker where,
(d) the individual complies with the continuing education requirements established by the Council.
Principal Brokers and Deputy Principal Brokers:
10 hours of continuing education credits every year between October 1st and September 30th. A minimum of 5 hours must be in the Management category. The remaining hours may be in the Management or Technical category. There is a carryover of a maximum of 10 hours (or one term’s requirements with a minimum of 5 hours in the Management category) allowed for the next term.
Personal Skills hours/credits cannot be applied towards the continuing education requirements. Principal Brokers and Deputy Principal Brokers who apply Personal Skills hours may experience a shortfall which may place their registration in non-compliance of the requirements.
Non-compliance of the requirements by the Principal Broker will result in the registration of the Principal Broker being referred to the Qualification and Registration Committee to propose to review and revoke the Principal Broker status. This may also result in the brokerage firm being subject to review by the Qualification and Registration Committee for non-compliance of the Principal Broker requirement. Deputy Principal Brokers who are in non-compliance of the continuing education requirements will result in the suspension of the license until full compliance has been met.
All other licensed individuals:
8 hours of continuing education credits every year between October 1st and September 30th in any category. There is a carryover of a maximum of 8 hours (or one term’s requirements) allowed for the next term.
Non-compliance of the requirements will result in the suspension of the license until full compliance has been met.
Newly licensed individuals:
The continuing education program of 8 hours every year between October 1st and September 30th will begin the first October following registration. Individuals are exempted for the remainder of the licence year that they were registered.
E.g. Broker A was registered on November 1, 2006 and Broker B was registered on April 30, 2007. Both Broker A and Broker B will not be required to have accumulated any continuing education credits
by September 30, 2007, but must begin taking the continuing education seminars/courses on October 1, 2007.
Category Definitions:
Each continuing education course/seminar/workshop that is submitted for accreditation is reviewed in accordance with the Broker Skills Reports which outlines the skills set necessary to carry out the duties and responsibilities of a broker.
Management
Subjects related to the RIB Act and Regulations, human resources, general management, accounting, computerization, and generally topics relevant to the operation of an insurance brokerage.
Technical
Subjects directed towards imparting of general insurance product knowledge and/or technical insurance expertise including risk management and loss prevention.
Personal Skills (Not eligible for Principal or Deputy Principal Brokers)
Subjects related to skills required to function efficiently in an insurance brokerage office, as a customer service representative or as a producer. Subjects would include, but not limited to, sales and
marketing skills, and communication and writing skills.
For spot check purposes, continuing education certificates should be kept for 5 years to indicate compliance with the Continuing Education Program. The continuing education certificates are not to be submitted to RIBO unless specifically requested by RIBO during a spot check. The Principal Broker will be responsible for ensuring that licensed individuals comply with RIBO requirements. However, it is also each individual’s responsibility to keep track of their own continuing education hours and certificates for 5 years, even if the brokerage firm/employer keeps a record of it.
Individuals who cannot confirm compliance with the continuing education requirements following a spot check will result in having their licenses suspended. These individuals will not be able to conduct
any business with members of the public until they are in full compliance and had their licenses reinstated by RIBO.
All individuals will also be asked at each renewal, to declare compliance with the Continuing Education Program. If the continuing education requirements have not been completed at the time the renewal application form is being filed, the question must be answered accordingly with a brief explanation. By answering that the requirements have been completed when in fact they have
not been, individuals have knowingly falsified the renewal application. Falsification on the annual renewal form constitutes an act of misconduct resulting in an individual’s file being referred to the Complaints & Discipline or Qualification & Registration Committee for review and disciplinary action.
