CISRO taps RIBO CEO for chairmanship

CISRO taps RIBO CEO for chairmanship | Insurance Business Canada

Insurance News

CISRO taps RIBO CEO for chairmanship

“It is a great honour to be appointed”

Insurance News

By
Terry Gangcuangco

The Canadian Insurance Services Regulatory Organizations (CISRO) has appointed Patrick Ballantyne (pictured) as chair.

With his current position as the chief executive of the Registered Insurance Brokers of Ontario (RIBO) since 2016, Ballantyne is poised to leverage his extensive background in legal and regulatory compliance within the financial services sector. His experience spans over three decades, commencing with his call to the Ontario Bar in 1987.

Ballantyne has been with RIBO for nearly two decades, initially serving as general counsel. Previous roles include Toronto Stock Exchange director for regulatory and market policy, vice president for regulation at the Investment Funds Institute of Canada, and Law Society of Upper Canada counsel. He also served as a regulatory consultant.

In an interview with Insurance Business in 2023, Ballantyne noted: “There’s been a lot of opportunities for us to learn over the last few years, and certainly we have employed some additional rigour to our exam processes, working with our administrators to make sure that the irregularities are kept to an absolute minimum, if not eliminated.”

Meanwhile, commenting on the CISRO appointment, Ballantyne only had nice words for his predecessor Eric Jacob and stated: “I would like to thank Eric for his steady and professional leadership as CISRO chair. Under Eric’s leadership, CISRO has invested in important activities to strengthen the organization, while pursuing initiatives in close collaboration with the Canadian Council of Insurance Regulators to enhance the fair treatment of customers.

“It is a great honour to be appointed as CISRO chair, and I look forward to working together with CISRO members as we deliver on our strategic plan.”

CISRO serves as a consortium of regulatory bodies across Canada that are committed to maintaining uniform standards for the conduct and qualifications of insurance intermediaries.

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