IBAO debuts new ethics education course to meet RIBO requirements
Published: November 6, 2018
CATEGORY: Industry News
The Insurance Brokers Association of Ontario (IBAO) has announced a new ethics-based program for its members. Launched this week, the new e-learning course will provide brokers with tools for expanding their education on ethical choices in business.
Titled, “Ethical Steps: Facing Ethical Situations in Insurance,” the course has been created to meet recent Registered Insurance Brokers of Ontario (RIBO) stipulations. Continued ethics education for brokers is now a requirement under new RIBO guidelines. IBAO says its new course will help brokers meet that requirement.
IBAO members will have free access to the course. The learning material will be available through the IBAO’s new learning management system, “My IBAO Learning Path”.
“It’s important to be nimble and be able to act quickly to changes across the industry,” said IBAO CEO Colin Simpson in a statement. “One of the main objectives of our new e-learning platform is to be able to respond quickly to changing educational requirements and have the ability to create timely, relevant education for our members.”
“The course we’ve designed provides brokers with a framework to address ethical situations on a consistent basis,” added IBAO education supervisor & instructional designer Kevin O’Hare. “With this training, brokers will be able to successfully recognize and manage situations that could result in conflicts or potential conflicts given their professional and legal obligations to consumers.”
Under new RIBO requirements, principal and deputy principal brokers must take 10 hours of continuing education credits every year, with 1 hour for ethics. All other licensed brokers must have 8 hours of continuing education every year, with the same allowance as principals for ethics education.