What is required for a broker to maintain their license under the RIBO Act?

Maintaining a broker's license under the RIBO Act necessitates participation in continuing education and training. This requirement ensures that brokers stay updated with the latest developments in the insurance industry, including changes in regulations, new products, and best practices. By engaging in ongoing education, brokers enhance their professional competency, improving their ability to serve clients effectively and operate within the legal framework of their profession. This focus on professional development helps maintain the integrity of the brokerage industry and promotes consumer confidence.

The other options do not align with the necessary criteria for license maintenance. Merely paying annual membership fees does not guarantee a broker's proficiency or update their knowledge in the field. Operating for a minimum of five years may imply experience but does not directly address the ongoing educational requirements essential for maintaining current industry standards. Additionally, while having no complaints filed could reflect well on a broker's practice, it does not impact their ability to maintain their license if they are actively participating in the required continuing education.