What is the focus of RIBO’s guidelines related to brokers?

The focus of RIBO's guidelines related to brokers is fundamentally centered on ensuring ethical practices and consumer protection. RIBO, which stands for the Registered Insurance Brokers of Ontario, oversees the licensing and conduct of insurance brokers in Ontario. Its primary objective is to maintain high ethical standards within the insurance industry, which ultimately safeguards consumer interests. By enforcing these guidelines, RIBO aims to foster trust in the brokerage profession, ensuring that brokers act in the best interests of their clients and uphold the principles of fair and honest dealings.

This emphasis on ethical practices includes areas such as transparency, conflict of interest management, and proper handling of client funds. Through these guidelines, RIBO helps to instill confidence in consumers who might be apprehensive about navigating insurance transactions. Overall, the guidelines serve as a framework for the professional behavior expected of brokers while prioritizing the protection and rights of consumers in the marketplace.