Registered Insurance Brokers of Ontario (RIBO) Practice Exam

The statement that indicates that the accident may occur in Ontario is indeed misleading in the context of Section 6 - Direct Compensation - Property Damage of the O.A.P. 1 Owner's Form. Under this section, it specifically addresses situations pertaining to damages resulting from accidents involving vehicles insured by Ontario-licensed insurance companies and requires that the accident occurs within Ontario to be applicable for direct compensation. Therefore, this assertion is incorrect as it contradicts the necessary condition that the accident must occur within the province for the coverage to be valid.

On the contrary, statements regarding the requirement for the other vehicle’s policy to be issued by an Ontario licensed insurer, the ability for the insured to collect from their insurer regardless of the operator’s fault (as long as there’s consent), and the coverage for damage to the automobile and specific related items do accurately reflect the provisions of the policy. These elements underscore the framework of direct compensation, which is designed to ensure that insured parties can recover losses in a clear and straightforward manner when involved in an accident with another vehicle.