When selecting an insurance provider one has the choice of an insurance agent or an insurance broker.
An agent is authorized to sell only the products of the insurance company with which they are employed and are therefore limited to a specific insurers’ products.
An insurance broker is an insurance professional registered pursuant to the Registered Insurance Brokers Act. The Registered Insurance Brokers of Ontario (RIBO) is the regulatory authority, established in 1981, which oversees a broker's practice and administers the legislated regulations, code of conduct and ensures financial and educational compliance of property and casualty insurance brokers in Ontario. An insurance broker is independent of any insurance company and represents a number of insurers. A broker is able to provide choice and impartial advice.