Happy Holidays from BrokerLink!

Our offices are closed December 24-26 and December 31-January 2 for the holidays. Our phone lines will be open on December 27 from 9 am-4 pm local time.


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Ontario is home to Canada’s largest and most diverse population. It’s a place where you can drive for sixteen hours and still be in the same province. In a place this big, you can’t rely on someone who doesn’t know your community to provide you the best insurance solution. You need someone who knows the unique issues in your community. What makes sense for someone in Toronto won’t make sense for someone in Cornwall. You need a broker who understands that! At BrokerLink, we find insurance that fits your life.

We’ve put together some helpful information about insurance in Ontario:

Insurance Regulation in Ontario

There are 5 major organizations to be aware of when it comes to insurance regulation in Ontario, including:

The Insurance Bureau of Canada (IBC)

IBC’s mandate is to analyze and forecast both potential industry issues and opportunities. As well, they are responsible for maintaining a dialogue with provincial and federal governments regarding public policy changes which could benefit the insurance industry as a whole, insurers and customers included.

The Financial Services Commission of Ontario (FSCO)

FSCO is responsible for the licensing and regulation of insurers in Ontario. This includes ensuring that you, the customer, are being offered the appropriate coverages.

The Registered Brokers Association of Ontario (RIBO)

RIBO is responsible for the licensing of insurance brokers in Ontario. They set guidelines for ethical conduct and are involved in ensuring that your broker has the necessary knowledge to advise you on the appropriate coverages, pricing, and risks you should be aware of when it comes to insuring your home, vehicle, business, etc.

CGI Group Inc.

CGI Group Inc. is the technology firm responsible for keeping track of drivers’ claims history. Your insurance history is a factor that affects your premiums.

The Ontario Ministry of Transportation (MTO)

The MTO is responsible for the licensing of drivers in Ontario, vehicle ownership and registration, and providing your driving abstract - a record of your traffic violations including speeding and parking tickets. Did you know that if you get a speeding ticket this can also affect your auto insurance premium.

Ontario Coverage Requirements - Car Insurance

By law, all vehicle operators in Ontario must have insurance. Fines for operating a vehicle without valid insurance can range up to $50,000! Additionally, if you are caught operating a vehicle without insurance this will be made known to insurer’s who may then refuse to provide you with the insurance you need.

In Ontario, you must have the following coverages:

  • Third Party Liability Coverage - This protects you in the case that you are sued for causing personal injury or property damage. 
  • Statutory Accident Benefits Coverage - This covers you if you are injured in an automobile accident regardless of who was at fault.
  • Direct Compensation - Property Damage Coverage - This covers you in case you get into an accident with another vehicle and there is damage to your vehicle or its contents. 
  • Uninsured Automobile Coverage - Protects you if you are injured in a hit-and-run accident or by an uninsured motorist.

Local Insurance Links