The RIBO license course is the first step to becoming a Licensed Insurance Broker in Ontario. RIBO stands for Registered Insurance Brokers of Ontario and they are the self-regulating body that governs insurance brokers in this province. They set educational standards, administer exams and enforce codes of conduct. They also offer a variety of continuing education courses for insurance brokers in the Ontario market. There are 3 classes of RIBO license with increasing degrees of authority and responsibility.Source: pnclearning.com
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The goal of the ribo license course is to provide students with a solid base of knowledge and concepts that will allow them to select the appropriate product for consumers and businesses. This enables them to become more effective sales professionals, and to work with clients to understand their needs. RIBO 1 courses are offered in a variety of formats, from in-person classroom training to online.
Once you have passed your RIBO Level 1 exam you can begin to work as a broker, but under the supervision of someone with a Level 2 or higher licence. After working as a restricted broker for two years you can apply to move to Level 2, which allows you to operate your own brokerage.
The next step in the career path is to get your RIBO Level 3. This requires you to complete a RIBO Management course and pass the RIBO Unrestricted Management exam. This allows you to become a Principal Broker and run your own brokerage.