The Registered Insurance Brokers of Ontario (RIBO) has amended its election by-law to ensure that small and large brokerages are represented in the RIBO Council.
The proposal was first brought forward in the spring of 2011 and RIBO said reaction to the proposal was “universally supportive.”
“There was consensus that RIBO Council functions best when the views, opinions and experiences of both larger and smaller brokerages are at the table,” RIBO said in its Summer Bulletin.
As of the 2011 election term, RIBO members will elect at least one candidate from a firm employing fewer than 20 licensed brokers and one from a firm employing 20 or more licensed brokers. A third candidate who receives the highest number of votes from any sized brokerage.
“In this way, there will always be at least 3 representatives (among the 9 elected brokers) from firms employing 20 or more licensed brokers and at least 3 from firms employing fewer than 20 licensed brokers,” said the bulletin.
“Council is confident that this amendment will help ensure the full spectrum of brokerage experience and expertise will enhance its future decision making,” the bulletin added.