• Principal Broker Renewal Info

As of July 2, 2024, Principal Brokers will gain access to the renewal portion of IRIS. (Please visit our IRIS Introduction if you require help with logging in, troubleshooting and more.)

Once logged in, you can renew your firm and optionally complete the Bulk Payment to pay for your brokers’ license renewal fees. After that is complete, you will be able to renew your own license.

Bulk Payments can only be made from July 2 to July 24, 2024 at 11:59 pm ET. If you have not paid for an individual broker, that person will need to pay for their own license renewal.

Visit our Renewal Centre and Renewal FAQs for information about the 2024-2025 license renewal process and fees.

Watch our Principal Broker’s Renewal Guide video showing how to renew their firm, renew their own license, complete bulk payments for brokers in their firm and check the renewal status for each broker in their firm.

Watch a recording of the Principal Broker Town Hall we held on June 4, 2024, where we provided renewal information and answered questions.

Firm Renewal Questions

RIBO collects information on an annual basis to confirm the status of all registered firm members. For the 2024/25 renewal, RIBO is collecting additional information through our renewal questions to better serve both the profession and the public.

To access the questions, Principal Brokers need to log into IRIS, click on the ‘Renewals’ tile, and then click on ‘Renew Brokerage.’ Click on the firm name, and then click on ‘Renewal Question.’

  1. Have there been any changes in ownership (including acquisition, share purchase, asset purchase, and amalgamation transactions), not previously reported to RIBO? Yes/No
    • If you answer yes, you’ll need to provide details and supporting documentation.
  2. During the last year, has there been any change to the insurance markets you represent that you have not previously reported to RIBO, including cancellations and/or suspensions? Yes/No
    • If you answer yes, you’ll need to provide details and supporting documentation.
  3. Do you sell Auto Insurance? Yes/No
    • If you answer yes, you’ll need to answer the following additional questions:
      • Please indicate the number of standard auto insurance markets you represent. (Please note that the insurers must be licensed in Ontario by the Financial Services Regulatory Authority of Ontario.) One, Two/Three, Four-Ten, More than Ten
      • Does your brokerage have a contract with the facility association? Yes/No
  4. Have you placed business with an unlicensed insurer since the last renewal? Yes/No
    • If you answer yes, you’ll need to provide additional details concerning the type of risk that was placed.
  5. Does an insurance company, bank, credit union, or other publicly traded or privately owned company have any direct or indirect ownership (includes ownership by holding company) in your firm? Yes/No
    • If you answer yes, you’ll need to provide additional details and supporting documentation.
  6. Are there any ongoing legal proceedings, or regulatory proceedings (involving other regulators), against the firm or any officer or director of the firm in any Canadian province or territory or anywhere in the world that has not been previously reported to RIBO? Yes/No
    • If you answer yes, you’ll need to provide additional details and supporting documentation.
  7. Were any court orders, judgements in civil or criminal or bankruptcy proceedings made against the firm or any officer or director of the firm in any Canadian province or territory or anywhere in the world that has not been previously reported to RIBO? Yes/No
    • If you answer yes, you’ll need to provide additional details and supporting documentation.

Survey Questions for Industry

Your answers in this section will help RIBO to better understand key characteristics of the brokerage industry in Ontario. Thank you for your responses.

  1. What markets do you represent? (Do not include sub-broker arrangements. Select all that apply or if you represent more than ten markets, select your top 10 markets.)
    • Intact Insurance Company
    • Economical Insurance (Definity Insurance Company)
    • Aviva Insurance Company of Canada
    • Travelers (Dominion of Canada General Insurance)
    • Wawanesa Mutual Insurance Company (The)
    • Aviva General Insurance Company
    • Northbridge General Insurance Corporation
    • Unifund Assurance Company
    • CAA Insurance Company
    • Pembridge Insurance Company
    • Echelon Insurance
    • Gore Mutual Insurance Company
    • Mutuals: Please list
    • Traders General Insurance Company
    • Primmum Insurance Company
    • Chubb Insurance Company of Canada
    • Scottish & York Insurance Co. Limited
    • Commonwell Mutual Insurance Group (The)
    • Jevco Insurance Company
    • Hagerty Canada
    • Pafco
    • Coachman
    • Royal & SunAlliance
    • Other (Please type in the name of the market(s) here.)
  2. Is more than 60% of the brokerage’s total premium volume placed with a single market? Yes/No
  3. Does your firm have a cyber security policy in place? A cyber security policy should identify what data needs to be secured, what threats and risks the firm faces, what safeguards are in place, and what to do in the case of an incident. Yes/No
  4. Have staff received cyber security awareness training? Yes/No
  5. Has the firm purchased or is considering purchasing a cyber insurance policy? Yes/No
    • If you answer no, you’ll need to provide additional information that might help RIBO identify barriers that exist for your firm to obtain cyber coverage.
  6. Are you a cover holder for an insurer? Yes/No
  7. Do you act as a wholesaler or Managing General Agent (MGA)?
    • Wholesaler
    • MGA
    • Both MGA and Wholesaler
    • I do not act as a wholesaler or MGA

Principal Broker’s Renewal Guide Video

Watch our Principal Broker’s Renewal Guide video showing how to renew their firm, renew their own license, complete bulk payments for brokers in their firm and check the renewal status for each broker in their firm.

The video will open up in a separate window. You will need to click on the next screen to watch the video.

Video Chapter Guide

  • 0:00 Introduction
  • 0:51 Additional Support and Resources
  • 1:40 System Settings and Orientation
  • 2:50 Starting Your Renewal
  • 3:10 Brokerage Renewal
  • 4:43 Brokerage Renewal – Step 1: Contact Information
  • 6:31 Brokerage Renewal – Step 2: Renewal Questions
  • 8:27 Brokerage Renewal – Step 3: Notice and Statement of Accuracy
  • 9:28 Brokerage Renewal – Step 4: Firm Renewal Payment
  • 11:38 Brokerage Renewal – Step 5: Bulk Payments / Checking Renewal Status of Brokers
  • 16:50 Principal Broker’s Individual Renewal
  • 17:35 Principal Broker’s Individual Renewal – Step 1: Contact Information
  • 19:15 Principal Broker’s Individual Renewal – Step 2: Renewal Questions
  • 19:50 Principal Broker’s Individual Renewal – Step 3: Notice and Statement of Accuracy
  • 20:37 Principal Broker’s Individual Renewal – Step 4: Payment
  • 21:29 Conclusion