Registered Insurance Brokers of Ontario (RIBO) Exam 2026 – 400 Free Practice Questions to Pass the Exam

Question: 1 / 475

Is Excess economic loss endorsement offered under the OAP 1 Owner's Form?

Yes, it is available to all policyholders

No, it does not exist

The correct understanding regarding the Excess economic loss endorsement in relation to the OAP 1 Owner's Form is that it does not exist under this specific form. The OAP 1 form primarily covers liability for bodily injury and property damage as a result of the use or operation of a motor vehicle. Economic losses, particularly those categorized as excess economic loss, are not typically covered by this endorsement within the confines of the OAP 1.

On the other hand, while various endorsements and additional coverage options are available under different types of policies or specific conditions, the Excess economic loss endorsement is not included in the fundamental offerings of the OAP 1. Thus, it’s important for policyholders to be aware that seeking coverage for excess economic loss would require looking at other policy options that may be designed for that purpose.

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Yes, but only in specific circumstances

No, but it is offered under different policies

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