What does the supervisory function of RIBO include?

The supervisory function of RIBO, which stands for the Registered Insurance Brokers of Ontario, primarily involves monitoring brokers to ensure they comply with the provisions of the RIBO Act. This includes oversight of professional conduct, ethical practices, and adherence to regulatory requirements in the insurance brokerage industry. Compliance monitoring is crucial because it helps maintain public confidence in the insurance brokerage profession by ensuring that brokers act in the best interest of their clients and uphold a standard of professionalism.

The other options, while related to the broader insurance field, do not accurately reflect RIBO's supervisory role. Setting premium rates is typically the responsibility of insurance companies rather than an oversight body like RIBO. Conducting marketing campaigns for insurance products is also outside the scope of RIBO's functions, which focus more on regulation and compliance rather than direct marketing activities. Additionally, while addressing client complaints is important, the supervisory role extends well beyond just responding to complaints, encompassing a comprehensive approach to regulation and standards maintenance for all brokers.