Let’s Make Ghost Brokers History

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Équité Association and the Registered Insurance Brokers of Ontario (RIBO) are both committed to protecting Canadians on behalf of the insurance industry. This is why we are collaborating to increase public awareness about the seriousness of insurance fraud and how ghost brokers facilitate that fraud.

Ghost brokers are people who pretend to be legitimate insurance brokers or agents. In actuality, they are selling fake insurance policies. Ghost brokers create fake or falsified insurance documents that appear to be legitimate insurance policies, and usually target younger drivers or new Canadians, as they tend to be less familiar with the insurance industry. Ghost brokers will often use social media to attract people by offering inexpensive car insurance deals that are too good to be true.

According to Betty Ng, Director of Investigative Services Ontario, Équité Association, “Insurance crime and fraud can have very real and devastating effects on those who are targeted. We know that we are stronger together. By partnering with RIBO, Ontario’s regulator of general insurance brokers, we are using our collective voice to educate and raise awareness in an effort to protect Canadians from being taken advantage of through insurance crime.”

Recognizing the signs of insurance crime and fraud empowers honest, hardworking Canadians to take decisive action to protect themselves and to avoid becoming a victim.

Ghost brokering scams offer either a completely fake policy, which looks identical to a legitimate one, or a genuine insurance policy using false information. In both cases, the ghost broker is making money through fraud, and the victim does not realize they have no insurance coverage and could have their claim denied if they file one.  

According to RIBO CEO and CISRO Chair Patrick Ballantyne, “Protecting Canadians from insurance scams is about more than safeguarding their personal and financial well-being. It is about preserving trust in a system that should always serve the public, not exploit it. We must stand united against fraud to ensure that every Canadian feels secure and informed.”

Canadians can protect themselves by ensuring that the broker they are speaking to or the brokerage they are dealing with is registered using RIBO’s Broker Search and Brokerage Search tools. The registry search allows anyone to determine if the individual or firm they are dealing with is licensed to provide advice and sell insurance.  

By law, all Ontario general insurance brokers must be licensed by RIBO and are subject to rigorous qualification and ongoing compliance requirements. This ensures that brokers meet high standards of professional conduct and maintain up-to-date knowledge of industry regulations, safeguarding consumers and promoting trust within the insurance market.

If you suspect that you are dealing with a ghost broker, don’t hesitate to report it immediately by completing and submitting the complaint form on RIBO’s website. Your vigilance helps keep everyone safer.

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