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= Registered Insurance Brokers of Ontario = The Registered Insurance Brokers of Ontario (RIBO) is a self-governing and self-supporting organization of general brokers in the province of Ontario. RIBO is responsible for the licensing, professional competence, ethical conduct, and insurance-related financial obligations of independent general insurance brokers in Ontario.

Overview
RIBO was established in October 1981 by the Ontario government to protect people during insurance transactions with brokers. Registered insurance brokers in Ontario are independent professionals who are governed by the Registered Insurance Brokers Act. Insurance brokers sell general insurance such as coverage for a property, automobile, business, boat, etc. Brokers offer products from different insurance providers to their clients and provide them with independent advice. Every registered insurance broker in Ontario must be properly licensed and is subject to a code of conduct.

1979 - 1980
Members of the RIBO Board worked on getting the RIBO legislation passed for two years. Bill 118, later the "Registered Insurance Brokers Act", was a result of over 30 drafts before successful approval. In April of 1980, every licensed agent and broker in Ontario received a draft of the proposed legislation. The RIBO committees and its board then conducted meetings in 37 locations throughout the province for suggestions and comments. Bill 118 became the Registered Insurance Brokers Act on December 10, 1980, when it was given a third reading.

1981
On April 1, 1981, the following sections of the Registered Insurance Brokers Act were proclaimed: 1, 4, 6, 8-12. 15-27, 30. 31. 33-35, 44, 46 and 47. RIBO was then given the authority to act. On September 23, 1981, the Government of Ontario approved the final RIBO regulation. All persons who were operating as independent agents and brokers in Ontario as of October 1st, 1981, automatically became registered insurance brokers.

Committees
RIBO is governed by a Council consisting of 13 people: 9 elected brokers and 4 public members appointed by the Lieutenant Governor in Council. The council supervises the management and affairs of the corporation and sets policies and guidelines. Its main authority is exercised through the following committees:

Every RIBO committee consists of at least one member of the public to represent the interest of insurance consumers.
 * Qualification and Registration Committee: Qualification and Registration Committee is responsible for setting and reviewing RIBO's qualification standards and ensuring businesses and individual brokers comply with the guidelines.
 * Complaints Committee: The Complaints Committee of RIBO investigates allegations of misconduct against brokers and determines whether there is sufficient evidence to warrant referring the complaint to the Discipline Committee.
 * Discipline Committee: The Discipline Committee conducts hearings to determine whether brokers are innocent or guilty of allegations specified in complaints. The Discipline Committee may impose penalties where a broker is found guilty. The possible penalties include reprimands, license revocation, and fines of up to $25,000 for individual brokers and up to $100,000 for businesses.