A RIBO Level 2 License allows insurance brokers in Ontario to expand their expertise and responsibilities within a brokerage. This license qualifies brokers to take on more advanced technical and commercial insurance roles, but they still operate under the supervision of a Principal Broker. Obtaining a RIBO Level 2 License demonstrates a broker’s ability to manage more complex client needs and develop a deeper understanding of the insurance industry.
This page will guide you through the process of obtaining a RIBO Level 2 License and provide a brief overview of all three RIBO licensing levels.
Overview of All RIBO Licensing Levels
RIBO offers three levels of insurance broker licensing in Ontario:
- Level 1 License – For entry-level brokers working under the supervision of a Principal Broker.
- Level 2 License – For brokers with more advanced technical and commercial insurance expertise, but still under a Principal Broker’s supervision.
- Level 3 License – For brokers qualified to act as Principal Broker, Deputy Principal Broker, or Supervising Broker, providing leadership within the brokerage.
What is a RIBO Level 2 License?
A RIBO Level 2 License allows brokers to take on a broader range of responsibilities within a brokerage, handling more complex technical and commercial insurance matters. As a Level 2 Broker, you will continue to work under the supervision of a Principal Broker, but will have greater independence and expertise in managing client needs.
Level 2 brokers may also:
- Handle more complex commercial insurance policies.
- Offer advice on specialized insurance products.
- Expand their knowledge of the regulatory and legal aspects of the insurance industry.
Requirements for a RIBO Level 2 License
To qualify for a RIBO Level 2 License, there are two paths.
Path 1: For RIBO License Holders
For those with an active RIBO Level 1 License, you must meet the following criteria:
1. Pass the RIBO Level 2 Technical/Commercial Exam
The primary requirement for obtaining a Level 2 License is passing the RIBO Level 2 Technical/Commercial Exam. This exam assesses your ability to handle more advanced and specialized insurance matters, including commercial insurance policies and regulatory compliance.
For more detailed information on the exam fee, format, content, registration process, and eligibility criteria, visit the Level 2 Exam Page.
2. Optional: Level 2 Technical Farm Exam
Brokers who wish to specialize in farm insurance can opt to take the Level 2 Technical Farm Exam. This exam is designed for those looking to deepen their knowledge of farm insurance, covering key aspects of insuring farm operations and rural properties.
3. Exemptions for Level 2 License
If you hold certain insurance designations as a RIBO Level 1 Licensee, you may be eligible for Level 2 exam exemptions for a RIBO Level 2 License.
Visit the RIBO Equivalency Page to check your eligibility for exemptions.
4. Submit Required Documents
When applying for your RIBO Level 2 License:
- Email licensing@ribo.com.
- Quote “Level 2 License Upgrade – Your Name – Your RIBO License Number” in the email subject line.
- Include course transcripts for your designation, your designation certificate, and/or exam results as proof that you meet the eligibility requirements.
Path 2: For Non-RIBO License Holders
If you hold an insurance license from another province or insurance designation that would qualify you for a RIBO Level 2 License, you may be eligible for an exemption from the Level 2 Technical/Commercial Exam. However, to ensure you are familiar with Ontario-specific regulations, you must complete the following two exams:
- RIB Act, Regulations, and By-laws Equivalency Exam
This exam covers regulations specific to RIBO and the legal framework that governs insurance brokers in Ontario. - RIBO Ontario Automobile Equivalency Exam
This exam focuses on Ontario-specific auto insurance regulations, which differ from other provinces’ regulations.
Visit the RIBO Equivalency webpage to check your eligibility for an exam waiver and find out how to apply.
For non-RIBO license holders only and upon successfully passing the appropriate exam(s), you can proceed with registration, subject to meeting the suitability requirements, as an insurance broker with a RIBO-registered brokerage firm. We strongly recommend checking the Registration Checklist before taking the exam(s). Candidates are responsible for verifying their eligibility for licensure prior to taking any exam.
Please note that passing the exam does not guarantee full eligibility, as additional background checks (including but not limited to criminal records and conflicts of interest with other licensing bodies) will be conducted during the formal licensing application process.
Continuing Education (CE)
To maintain your license, RIBO requires you to complete continuing education (CE) credits annually. These credits ensure you stay up-to-date with industry standards and regulations. For more information on the specific CE requirements, visit RIBO’s Continuing Education webpage.
License Renewal
Your RIBO license must be renewed annually to remain active. License renewal requires both the completion of CE credits, the payment of renewal fees and the completion of answering renewal questions. To learn more about the renewal process and deadlines, visit our Renewal Centre.
What You Can Do With a Level 2 License
A RIBO Level 2 License allows you to take on more advanced responsibilities within a brokerage, including:
- Handling complex commercial insurance policies.
- Working more independently with clients.
- Offering specialized advice on insurance products and regulatory matters.
You will continue to operate under the supervision of a Principal Broker, but you will have a greater level of independence in handling advanced client needs and complex insurance scenarios.
Common Questions
Do I Need to Hold a Level 1 License Before Applying for Level 2?
Yes, an active RIBO Level 1 License is required before you can apply for a Level 2 License. You must also pass the Level 2 Technical/Commercial Exam.
Can I Be Exempt from the Level 2 Exam?
Certain designations, such as CAIB or CIP, may qualify you for an exam exemption. Visit the RIBO Equivalency Page to check your eligibility for exemptions.
Do I Need to Fulfill Continuing Education Requirements?
Yes, all brokers with a Level 2 License must complete their CE requirements annually to maintain their license.
Does RIBO Administer the Exams?
No, the exams are administered by the Insurance Brokers Association of Ontario (IBAO) or the Insurance Institute of Canada (IIC). For issues related to registration, rescheduling, accommodations, or technical problems, please contact your exam provider directly.
Can I Retake the Exam?
Yes, candidates are allowed two attempts with each exam provider (IBAO and IIC). If all four attempts are unsuccessful, you must wait 8 months before reapplying.