Registered Insurance Brokers Act, R.S.O. 1990, c. R.19

JurisdictionOntario

Registered Insurance Brokers Act

R.S.O. 1990, CHAPTER R.19

Consolidation Period: From December 8, 2020 to the e-Laws currency date.

Last amendment: 2020, c. 36, Sched. 14, s. 15.

CONTENTS

Definitions

1 In this Act,

“applicant” means an individual, partnership or corporation that applies for registration under this Act; (“auteur d’une demande”)

“Authority” means the Financial Services Regulatory Authority of Ontario continued under subsection 2 (1) of the Financial Services Regulatory Authority of Ontario Act, 2016; (“Autorité”)

“board of inquiry” means a board of inquiry appointed by the Council; (“commission d’enquête”)

“certificate” means a certificate issued under this Act; (“certificat”)

“Chief Executive Officer” means the Chief Executive Officer appointed under subsection 10 (2) of the Financial Services Regulatory Authority of Ontario Act, 2016; (“directeur général”)

“Complaints Committee” means the Complaints Committee of the Council established under this Act; (“comité des plaintes”)

“contract” has the same meaning as in the Insurance Act, but does not include a contract of life insurance as defined under that Act; (“contrat”)

“Corporation” means the body corporate known as the Registered Insurance Brokers of Ontario; (“Association”)

“Council” means the Council of the Registered Insurance Brokers of Ontario; (“conseil”)

“Discipline Committee” means the Discipline Committee of the Council established under this Act; (“comité de discipline”)

“incapacitated member” means a member suffering from a physical or mental condition or disorder of a nature and extent making it desirable in the interest of the public or the member that he or she no longer be permitted to carry on business as a registered insurance broker or that his or her business be restricted; (“membre atteint d’une invalidité”)

“insurance” has the same meaning as in the Insurance Act, but does not include life insurance as defined under that Act; (“assurance”)

“insurance agent” means an agent within the meaning of the Insurance Act; (“agent d’assurances”)

“insurance broker” means any person who for any compensation, commission or other thing of value, with respect to persons or property in Ontario, deals directly with the public and,

(a) acts or aids in any manner in soliciting, negotiating or procuring the making of any contract of insurance or reinsurance whether or not the person has agreements with insurers allowing the person to bind coverage and countersign insurance documents on behalf of insurers,

(b) provides risk management services including claims assistance where required,

(c) provides consulting or advisory services with respect to insurance or reinsurance, or

(d) holds himself, herself or itself out as an insurance consultant or examines, appraises, reviews or evaluates any insurance policy, plan or program or makes recommendations or gives advice with regard to any of the above; (“courtier d’assurances”)

“Manager” means the Manager of the Registered Insurance Brokers of Ontario; (“administrateur”)

“member” means an individual, partnership or corporation registered under this Act to carry on business as an insurance broker; (“membre”)

“Minister” means the Minister of Finance or any other member of the Executive Council to whom responsibility for the administration of this Act is assigned or transferred under the Executive Council Act; (“ministre”)

“misconduct” means misconduct as defined in the regulations; (“inconduite”)

“person” includes a partnership and an unincorporated association; (“personne”)

“public” means persons other than insurers, insurance brokers, insurance adjusters and insurance agents; (“public”)

“Qualification and Registration Committee” means the Qualification and Registration Committee of the Council established under this Act; (“comité des titres de compétence et des inscriptions”)

“registered insurance broker” means a person registered under this Act to carry on business as an insurance broker. (“courtier d’assurances inscrit”) R.S.O. 1990, c. R.19, s. 1; 1997, c. 28, s. 227; 2004, c. 31, Sched. 38, s. 3; 2016, c. 37, Sched. 21, s. 1; 2018. c. 8, Sched. 29, s. 1; 2020, c. 36, Sched. 14, s. 15 (1).

Section Amendments with date in force (d/m/y)

1997, c. 28, s. 227 (1-2) - 01/07/1998

2004, c. 31, Sched. 38, s. 3 (1-2) - 30/04/2007

2016, c. 37, Sched. 21, s. 1 (1-4) - 08/12/2016

2018, c. 8, Sched. 29, s. 1 - 08/06/2019

2020, c. 36, Sched. 14, s. 15 (1) - 08/12/2020

Prohibition re file

2 (1) No person shall act as an insurance broker unless the person is a registered insurance broker under this Act. R.S.O. 1990, c. R.19, s. 2 (1).

Exceptions

(2) Subsection (1) does not apply to,

(a) lawyers, accountants or actuaries acting in their professional capacity;

(b) an insurance agent licensed under the Insurance Act, while acting within the authority of his or her licence;

(c) an insurance adjuster licensed under the Insurance Act, while acting within the authority of his or her licence;

(d) any individual, partnership or corporation who acts solely as a reinsurance broker;

(e) a person registered under the Travel Industry Act, 2002, acting in respect of travel accident and sickness, baggage or trip cancellation insurance;

(f) an employee of a person registered under this Act when the employee is acting for or on behalf of his or her employer engaged solely in the performance of clerical or administrative duties in the office of his or her employer;

(g) any regular salaried employee of an insured or of a subsidiary or affiliate or corporate insured whose duties in whole or in part are to negotiate for or procure insurance or render other services on behalf of such employer or employers in connection with the procuring or maintaining of insurance on the property or risks of such employer or employers if the employee does not receive compensation, commission or other thing of value from any insurance agent, broker, or insurer for, or in connection with such services;

(h) a trustee appointed under this Act;

(i) an insurer or a subsidiary or an affiliate of an insurer or any employee, officer or director thereof if he or she is not acting in any manner in soliciting, negotiating or procuring the making of any contract of insurance;

(j) such other persons as are exempted by the regulations. R.S.O. 1990, c. R.19, s. 2 (2); 2002, c. 30, Sched. E, s. 17; 2016, c. 37, Sched. 21, s. 2.

Section Amendments with date in force (d/m/y)

2002, c. 30, Sched. E, s. 17 - 01/07/2005

2016, c. 37, Sched. 21, s. 2 - 08/12/2016

Prohibition re title

3 (1) No person shall hold himself, herself or itself out as an insurance broker or as the holder of a certificate under this Act unless the person is the holder of a certificate under this Act.

Use of title

(2) No person shall use the title “registered insurance broker” or “courtiers d’assurances inscrit” or the designation “R.I.B. (Ont.)” or “C.A.I. (Ont.)” or other designation representing or similar to the title unless the person is the holder of a certificate as a registered insurance broker under this Act. R.S.O. 1990, c. R.19, s. 3.

Corporation

4 (1) The Registered Insurance Brokers of Ontario is continued under the name Registered Insurance Brokers of Ontario in English and Courtiers d’assurances inscrits de l’Ontario in French, as a body corporate without share capital.

Powers

(2) The Corporation has the power to acquire, hold, dispose of and otherwise deal with real and personal property for the purposes of this Act.

Objects

(3) The Corporation shall have the general purpose of carrying out the powers and duties conferred on it by this Act. R.S.O. 1990, c. R.19, s. 4.

Membership

5 (1) Every person who is registered by the Corporation is a member of the Corporation.

Resignation of membership

(2) An individual member may resign his or her membership by filing with the Manager a resignation in writing and the registration is thereupon cancelled. 2017, c. 34, Sched. 36, s. 1 (1).

Cancellation for default of fees

(3) The Manager may cancel a registration for non-payment of any prescribed fee after giving the member at least one month notice in writing of the default and intention to cancel the registration. R.S.O. 1990, c. R.19, s. 5; 2017, c. 34, Sched. 36, s. 1 (2).

Section Amendments with date in force (d/m/y)

2017, c. 34, Sched. 36, s. 1 (1, 2) - 14/12/2017

Continuing jurisdiction

Former member

5.1 (1) An individual who resigns as a member of the Corporation or whose membership expires or is revoked, cancelled or otherwise terminated remains subject to the continuing jurisdiction of the Corporation in respect of an investigation or disciplinary proceeding arising from his or her conduct while a member. 2017, chap. 34, Sched. 36, s. 2.

Suspended member

(2) A member whose membership is suspended remains subject to the continuing jurisdiction of the Corporation for all purposes under this Act. 2017, chap. 34, Sched. 36, s. 2.

Section Amendments with date in force (d/m/y)

2017, c. 34, Sched. 36, s. 2 - 14/12/2017

Council

6 (1) The Council shall be the governing body and board of directors of the Corporation and shall manage and administer its affairs.

Composition

(2) Subject to the regulations, the Council shall be composed of,

(a) eight persons who are individual members of the Corporation and are elected by the members in the manner provided by the regulations;

(b) three persons who are not members of the Corporation and are appointed by the Lieutenant Governor in Council.

Increased size of Council

(3) The Lieutenant Governor in Council may, by regulation, vary the size of the Council but at least one-quarter of the members of the Council shall be persons appointed by the Lieutenant Governor in Council who are not members of the Corporation.

Transition

(4) Despite clause (2) (a), when this Act comes into force, the Lieutenant Governor in Council shall appoint to the...

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