The Registered Insurance Brokers Act of Ontario states, "An 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...etc." Which one (1) of the following is EXEMPT from the provisions of the RIB Act? OA) An individual who for compensation solicits or negotiates a contract of insurance directly with the public on behalf of more than one insurer. OB) Operations where risk management services and claims assistance only are provided. OC) Organizations where consulting or advisory services with respect to insurance or reinsurance are provided. OD) An individual who acts solely on behalf of one insurer or affiliated group of insurers and the Facility Association.
The Registered Insurance Brokers Act of Ontario states, "An 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...etc." Which one (1) of the following is EXEMPT from the provisions of the RIB Act? OA) An individual who for compensation solicits or negotiates a contract of insurance directly with the public on behalf of more than one insurer. OB) Operations where risk management services and claims assistance only are provided. OC) Organizations where consulting or advisory services with respect to insurance or reinsurance are provided. OD) An individual who acts solely on behalf of one insurer or affiliated group of insurers and the Facility Association.
Chapter1: Making Economics Decisions
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Transcribed Image Text:The Registered Insurance Brokers Act of Ontario states, “An 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...etc." Which one (1) of the following is EXEMPT from the provisions of the RIB Act?
OA) An individual who for compensation solicits or negotiates a contract of insurance directly with the public on
behalf of more than one insurer.
B) Operations where risk management services and claims assistance only are provided.
OC) Organizations where consulting or advisory services with respect to insurance or reinsurance are provided.
OD) An individual who acts solely on behalf of one insurer or affiliated group of insurers and the Facility
Association.
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