The new course fulfills a training requirement on the new OPCF 49 endorsement —free to IBAO Members.
TORONTO, ON, SEPTEMBER 7, 2023/insPRESS/ – The Insurance Brokers Association of Ontario (IBAO) has released a new eLearning course to address changes to Ontario Auto that take effect January 1, 2024.
Ontario’s new auto endorsement—OPCF 49 Agreement Not to Recover for Loss or Damage from an Automobile Collision—allows drivers to opt out of Direct Compensation for Property Damage (DCPD) coverage. Effective January 1, 2024, insurers issuing Ontario Automobile Policies (OAP 1) will be required to offer the OPCF 49.
Brokers must ensure that they fully explain the benefits and risks of the OPCF 49 to any of their clients who request it. For example, although a client could reduce their premium, if the client leases their…
