What qualifications are necessary to be a member of the RIBO Board?

To be a member of the RIBO Board, individuals are required to be licensed insurance brokers with relevant expertise. This is important because the RIBO Board's primary role is to oversee the standards and practices of insurance brokers in Ontario, ensuring that they adhere to regulations while providing guidance and policy-making for the profession. Licensed insurance brokers have practical experience and knowledge of the industry, which allows them to contribute effectively to discussions about regulatory matters, ethics, and the overall operation of the insurance brokerage community. Their qualifications ensure that decisions made by the board are informed by real-world insights and a deep understanding of the brokerage industry.

The other groups mentioned, such as certified financial planners, lawyers specializing in insurance law, and insurance company executives, may possess valuable qualifications and expertise, but they do not have the same level of relevant oversight and practical experience in the brokerage framework as licensed insurance brokers. Therefore, their inclusion would not align with the primary focus and objectives of RIBO's governance structure.