Ontario insurance broker record retention: the six-year rule

What the law requires

The Registered Insurance Brokers Act and O. Reg. 991 set minimum record-keeping standards for RIBO members. Section 17(9) requires members to preserve required records for at least six years before the end of their most recent fiscal year — not six years from policy expiry or claim closure.

RIBO's handbook guidance suggests considering longer retention for commercial lines and complex files. Your brokerage's E&O carrier may also have expectations beyond the statutory minimum.

What records must be kept

Required records generally include client files with application documents, disclosure evidence, correspondence, and transaction records tied to the brokerage's RIBO obligations. The exact scope depends on line of business and current guidance.

• Client identity and application documents.
• Written disclosure and suitability documentation.
• Quote records (including TAC quote log evidence for auto).
• Correspondence and advice notes relevant to the placement.
• Records producible to RIBO on request.

Electronic storage and retrieval

Loose email attachments and personal device photos do not survive a six-year horizon or a RIBO production request. Electronic records must be retrievable, legible, and protected — which is why PIPEDA-aligned safeguards matter even when the statutory floor is about duration.

Hivi-X stores client files on Canadian servers with AES-256-GCM encryption at rest and TLS in transit. Exportable PDF packages give principals a single artifact per client file for BMS upload or archive. This page is general information, not legal or compliance advice; consult qualified counsel and your E&O carrier.