Can RIBO members engage in the sale of insurance without a license?

RIBO members are required to be registered and licensed under the RIBO Act to legally sell insurance. This licensing process ensures that brokers meet specific educational and ethical standards necessary to serve the public effectively. Registration protects consumers by ensuring that those selling insurance have adequately understood the products they are offering and the implications of selling insurance.

Regardless of their experience in the industry, engaging in the sale of insurance without the proper licensing is not permissible. It is essential for maintaining the integrity of the industry and upholding consumer trust. The requirement for licensing serves as a regulatory framework to hold brokers accountable for their actions and to ensure compliance with applicable laws and regulations governing the insurance sector.

The other options do not align with the legal framework established under the RIBO Act. Experience alone does not substitute for licensing, a limited period of unlicensed engagement would not comply with the necessary standards, and while a broker can indeed work under the supervision of a licensed broker, that does not allow for selling independently without a license. Thus, the requirement for RIBO members to be registered and licensed is fundamental in upholding the professional standard within the insurance industry.