What action must be taken if a broker changes their address?

When a broker changes their address, it is crucial to notify RIBO of the change promptly. This is important because RIBO, the regulatory body governing insurance brokers, needs to have accurate and current information on file to ensure compliance with regulations and facilitate communication. Keeping RIBO updated helps maintain the integrity of the regulatory framework and ensures that brokers remain in good standing.

While notifying clients and updating business cards might seem important, the primary obligation is to ensure that RIBO has the latest records. Failure to inform RIBO about changes could lead to potential compliance issues or disruptions in the broker's ability to operate legally within the industry.