Insurance courses Ontario may not be a glamorous or high-profile career, but it provides products that help people through various stages of life. It is also a highly respected profession that requires a great deal of integrity and trust between clients and agents. Many provincial governments license and regulate insurance professionals to safeguard Canadian consumers. Although the specifics of licensing vary slightly by province, the overall process is organized and efficient.
Those who want to become insurance brokers in Ontario will take the Registered Insurance Brokers of Ontario (RIBO) exam. RIBO courses are available as either home study or in classroom settings and provide the education necessary to pass the exam. Upon passing the exam, the agent is granted a Level 1 licence, which allows them to sell all categories of insurance except for life and accident and health. The licensee must have a sponsoring insurer that agrees to supervise the licensee in accordance with the provisions of the Act.
“Securing Your Future: Obtaining an Insurance License in Ontario
Once a licensee has passed the RIBO exam, they can then apply for a general licence in the province in which they wish to work. This is often called an Other Than Life (OTL) licence. In order to write the OTL licence, an individual must be sponsored by a direct writer (for example State Farm, Co-operators, Belair Direct). The OTL licensing exam is coordinated through the Insurance Institute of Canada. The Institute offers Virtually proctored online exams, or you can sit the exam in person at an Institute examination centre.
