Compliance and Conduct

At LMBF Insurance, we are committed to maintaining the highest standards of integrity, transparency, and professionalism in all our dealings with clients. Our practices align with applicable regulatory requirements and industry standards to ensure clients receive fair treatment, clear information, and appropriate insurance solutions.

This page provides information about key regulatory principles and disclosures that guide how we conduct business.

Take-All-Comers Rule

In Ontario, the Take-All-Comers rule requires insurers and brokers to provide automobile insurance quotes and renewals to eligible consumers who meet an insurer’s approved underwriting criteria.

This rule ensures that:

• Consumers who qualify under an insurer’s underwriting guidelines must be offered coverage.
• Eligible consumers must receive the lowest available rate approved for their circumstances.
• Quotes and renewals must be provided without unfair discrimination.
• Unreasonable delays in providing a quote may be treated as a refusal of coverage.

More information about this rule is available through the Financial Services Regulatory Authority of Ontario.

CISRO Principles of Conduct for Insurance Intermediaries

We adhere to the CISRO Principles of Conduct for Insurance Intermediaries, which establish national standards for ethical and professional behavior in the insurance industry.

These principles emphasize:

• Compliance with applicable laws and regulations
• Fair treatment of customers
• Identification and management of conflicts of interest
• Clear and transparent communication with clients
• Providing advice suitable to the client’s needs and circumstances
• Maintaining professional competence and ongoing education
• Protection of personal and confidential information
• Timely and fair handling of complaints and claims

These principles help ensure that clients receive professional, transparent, and ethical service throughout the insurance process.

RIBO Code of Conduct

Insurance brokers operating in Ontario must be licensed by the Registered Insurance Brokers of Ontario (RIBO) and follow the RIBO Code of Conduct.

Under this code, brokers are expected to:

• Act with honesty, integrity, and professionalism
• Provide advice based on the client’s needs and circumstances
• Clearly explain coverage, options, and limitations
• Disclose compensation and potential conflicts of interest
• Safeguard client information
• Handle complaints and inquiries fairly and promptly

Consumers also have the right to ask how their broker is compensated and which insurers they represent. More details are available in the RIBO Fact Sheet.

Commission Disclosure

Insurance brokers are typically compensated through commissions paid by insurance companies when a policy is placed.

Our typical commission ranges are as follows:

• Personal Automobile Insurance: up to 12.5%
• Personal Property Insurance: up to 20%
• Commercial Automobile Insurance: between 0% and 20%
• Commercial Property Insurance: between 0% and 20%

Commission levels may vary depending on the insurer, the product, and the specific policy.

If you would like additional information about how we are compensated for your policy, please contact your broker.

Conflicts of Interest

We are committed to identifying and managing potential conflicts of interest in a manner that prioritizes the fair treatment of clients.

Potential conflicts may arise when:

• Compensation structures differ between insurers
• Our brokerage has contractual relationships with certain insurers
• Additional incentives or contingent commissions may exist

When such situations arise, we take appropriate steps to manage and disclose these conflicts so that clients can make informed decisions.

Complaint Handling

If you have a concern about our services, we encourage you to contact us so we can work to resolve the issue promptly and fairly.

Our complaint process is as follows:

1. Contact your broker or our office to explain your concern.
2. If the issue cannot be resolved immediately, it may be escalated internally for review.
3. If you remain dissatisfied, you may contact the insurance company involved or the appropriate regulatory authority.

Insurance brokers in Ontario are regulated by the Registered Insurance Brokers of Ontario (RIBO).

Privacy and Protection of Personal Information

We are committed to protecting the confidentiality and security of your personal information.

Personal information collected may include:

• Contact and identification information
• Information related to your insurance needs and coverage
• Claims history and underwriting information

This information is used to:

• Obtain insurance quotes
• Place and service insurance policies
• Assist with claims
• Meet legal and regulatory requirements

Your information may be shared with insurers, underwriting partners, and other parties involved in providing insurance services. All personal information is handled in accordance with applicable privacy laws.

Insurance Companies We Represent

As an independent brokerage, we work with multiple insurance companies to provide a range of coverage options tailored to our clients’ needs.

The insurers and underwriting partners we represent may change from time to time. If you would like to know which insurers are available for your specific coverage needs, please visit our Insurance Partners page.

Regulatory Information

Insurance brokers in Ontario are regulated by provincial authorities and industry organizations that help ensure fair treatment ofconsumers.

Additional information can be found at:

• Financial Services Regulatory Authority of Ontario (FSRA)
• Registered Insurance Brokers of Ontario (RIBO)
• Canadian Insurance Services Regulatory Organizations (CISRO)

These organizations establish regulatory standards and consumer protection guidelines for the insurance industry.

Questions

‍If you have any questions or concerns about this Compliance and Conduct policy or our privacy practices, please contact us at:

LMBF Insurance
1955 ch. De La Côte-de-Liesse, Suite 201
Saint-Laurent, QC H4N 3A8
info@lmbf.ca
416-283-3200

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