Overview
The Financial Services Regulatory Authority of Ontario (FSRA) is committed to improving transparency and accountability in its delivery of regulatory activities. In keeping with this commitment, FSRA introduced 25 service standards for the fiscal year (FY) 2025‑26 to set clear service expectations and targets in five key areas:
Auto Insurance
Credit Unions
Pensions
Market Conduct
Public Affairs
The standards measure operational and regulatory activities that FSRA provides to industry and consumer stakeholders, such as licence renewals, regulatory applications, complaints resolution and other core services. FSRA is committed to continuous improvement, upholding high performance standards, and delivering excellence in service.
Performance results
The Q4 FY2025-26 results for each service standard are below. Green indicates FSRA met or exceeded targets for the performance score. Yellow indicates that the performance score was within 10% of the target. Red indicates that the performance score fell below target by more than 10%.
Meets or Exceeds Target
Less than 10% Variance from Target
Greater than 10% Variance from Target
| Service | Standard | Status | YTD Performance Score (%) | Q4 Performance Score (%) | Standard Performance Target (%) | Standard Stretch Target (%) |
|---|---|---|---|---|---|---|
| Applications for Private Passenger Automobile (PPA) Insurance Rate and Risk Classification Filings | Percentage of Private Passenger Auto (PPA) Standard filings reviewed and decision made within 25 business days, excluding insurers' filings did not adhere to FSRA’s rate regulation principles or not ready for regulatory review. |
| 100% of applications processed | 100% of applications processed | 90% | N/A |
| Applications for non-Private Passenger Automobile (PPA) Insurance Rate and Risk Classification Filings | Percentage of non-PPA Minor filings reviewed and decision made within 25 business days. |
| 100% of filing decisions | 100% of filing decisions | 85% | N/A |
| Major Filings | Percentage of Major Rate Filings reviewed and decision made within 45 business days. |
| 96.4% of filing decisions | 85.7%* of filing decisions | 90% | N/A |
| Underwriting Rules & Form Filings | Percentage of Underwriting Rules, Endorsement and Form Filings reviewed and decision made within 30 business days. |
| 96.7% of filing decisions | 95.6% of filing decisions | 80% | N/A |
*Mitigation: A higher-than-usual volume of auto insurance reform filings placed temporary pressure on review capacity, particularly for more complex applications. Additional staff have since joined the team, which is expected to help stabilize processing times going forward.
Meets or Exceeds Target
Less than 10% Variance from Target
Greater than 10% Variance from Target
| Service | Standard | Status | YTD Performance Score (%) | Q4 Performance Score (%) | Standard Performance Target (%) | Standard Stretch Target (%) |
|---|---|---|---|---|---|---|
| Regulatory Approvals (Certificates) | Requests for certificates processed within 3 days of receipt of all required information. |
| 100% of applications processed | 100% of applications processed | 90% | 100% |
| Regulatory Approvals | All Credit Union regulatory applications processed within 30 days after all required information received. |
| 100% of applications processed | 100% of applications processed | 90% | 100% |
| Regulatory Approvals (Complex) | All complex credit union regulatory applications processed within 60 days after all required information received. |
| 100% of applications processed | N/A1 | 90% | 100% |
| Regulatory Approvals (Prudential Insurance) | All insurance prudential regulatory applications processed within 45 days after all required information received. |
| 100% of applications processed | 100% of applications processed | 90% | 100% |
| Member / public inquiries | Telephone and email inquiries responded to or acknowledged within 1 business day. |
| 97.6% of inquiries | 94.4% of inquiries | 90% | 100% |
| Supervisory Assessments (Credit Unions) | Supervisory letter (interim supervisory letter) issued to the Credit Union within 60 business days after completed assessment. |
| 100% of reports | 100% of reports | 75% | 100% |
| Supervisory Assessments (Ontario-incorporated insurance companies and reciprocals) | Supervisory letter (interim supervisory letter) issued to the insurer within 60 business days after completed assessment. |
| 100% of reports | 100% of reports | 65% | 100% |
1 FSRA did not receive any complex Credit Union regulatory applications in Q4 FY2025-26.
Meets or Exceeds Target
Less than 10% Variance from Target
Greater than 10% Variance from Target
| Service | Standard | Status | YTD Performance Score (%) | Q4 Performance Score (%) | Standard Performance Target (%) | Standard Stretch Target (%) |
|---|---|---|---|---|---|---|
| Complaints | ||||||
| FSRA Complaints Acknowledgement (All Sectors) | FSRA will acknowledge complaints in writing within 3 business days of receipt provided that the reply information is available. |
| 93.3% of all complaints | 94% of all complaints | 90% | 100% |
| Life Insurance | Within 90 days, complaints received by FSRA will be assessed and actioned for a range of possible outcomes inclusive of escalation to other areas of FSRA, transfer to third party dispute organizations, warning letters and closed with no action. |
| 98.7% of all complaints | 100% of all complaints | 80% | N/A |
| Auto Insurance | Within 90 days, complaints received by FSRA will be assessed and actioned for a range of possible outcomes inclusive of escalation to other areas of FSRA, transfer to third party dispute organizations, warning letters and closed with no action. |
| 99.8% of all complaints | 100% of all complaints | 80% | N/A |
| Health Service Providers (HSPs) | Within 90 days, complaints received by FSRA will be assessed and actioned for a range of possible outcomes inclusive of escalation to other areas of FSRA, transfer to third party dispute organizations, warning letters and closed with no action. |
| 85.7% of all complaints | 50%* of all complaints | 80% | N/A |
| Mortgage Brokers | Within 90 days, complaints received by FSRA will be assessed and actioned for a range of possible outcomes inclusive of escalation to other areas of FSRA, transfer to third party dispute organizations, warning letters and closed with no action. |
| 96.4% of all complaints | 94.4% of all complaints | 80% | N/A |
| Credit Unions | Within 90 days, complaints received by FSRA will be assessed and actioned for a range of possible outcomes inclusive of escalation to other areas of FSRA, transfer to third party dispute organizations, warning letters and closed with no action. |
| 100% of all complaints | 100% of all complaints | 80% | N/A |
| Loan & Trust Corporations | Within 90 days, complaints received by FSRA will be assessed and actioned for a range of possible outcomes inclusive of escalation to other areas of FSRA, transfer to third party dispute organizations, warning letters and closed with no action. |
| 100% of all complaints | 100% of all complaints | 80% | N/A |
| Insurance (Non-Auto) | Within 90 days, complaints received by FSRA will be assessed and actioned for a range of possible outcomes inclusive of escalation to other areas of FSRA, transfer to third party dispute organizations, warning letters and closed with no action. |
| 99.4% of all complaints | 100% of all complaints | 80% | N/A |
| Financial Professionals Title Protection | Within 90 days, complaints received by FSRA will be assessed and actioned for a range of possible outcomes inclusive of escalation to other areas of FSRA, transfer to third party dispute organizations, warning letters and closed with no action. |
| 100% of all complaints | 100% of all complaints | 80% | N/A |
| Licensing | ||||||
| Insurance Agents | Within 20 business days, 75% of applications for a new licence or renewal will be reviewed and approved. |
| 86.5% of all new and renewal applications | 98.6% of all new and renewal applications | 75% | 80% |
| Corporate Life & Health Insurance Agents | Within 20 business days, 75% of applications for a new licence or renewal will be reviewed and approved. |
| 91.0% of all new and renewal applications | 85.8% of all new and renewal applications | 75% | 80% |
| Corporate P&C Insurance Agents | Within 20 business days, 75% of applications for a new licence or renewal will be reviewed and approved. |
| 89.1% of all new and renewal applications | 91.7% of all new and renewal applications | 75% | 80% |
| Health Service Providers (HSPs) | Within 20 business days, 75% of applications for a new licence or licence change request will be reviewed and approved. |
| 85.6% of all new applications and licence change requests | 88.5% of all new applications and licence change requests | 75% | 80% |
| Mortgage Agents & Brokers | Within 20 business days, 75% of applications for a new licence or renewal will be reviewed and approved. |
| 93.1% of all new and renewal applications | 100% of all new and renewal applications | 75% | 80% |
*Mitigation: One complaint closed during the quarter required more time due to its complexity, including additional consultation and clarification. These factors extended the review timeline beyond the service standard.
Meets or Exceeds Target
Less than 10% Variance from Target
Greater than 10% Variance from Target
| Service | Standard | Status | YTD Performance Score (%) | Q4 Performance Score (%) | Standard Performance Target (%) | Standard Stretch Target (%) |
|---|---|---|---|---|---|---|
| Inquiries (Pension) all communications | Inquiries (plan specific, non-plan specific and general) will be responded to within 45 business days. |
| 93.3% of inquiries | 90.8% of inquiries | 90% | 100% |
| Application | Defined Benefit Plan wind up applications will be reviewed, and a decision will be made within 120 business days. |
| 93.1% of applications | 50%* of applications | 80% | 100% |
| Application | Defined Contribution plan wind up applications will be reviewed, and a decision will be made within 90 business days. |
| 100% of applications | 100% of applications | 90% | 100% |
| Application | Defined Benefit Asset Transfers applications will be reviewed, and a decision made within 120 business days. |
| 100% of applications | 100% of applications | 80% | 100% |
| Application | Defined Contribution asset transfers applications will be reviewed, and a decision made within 90 business days. |
| 78.9% of applications | 80% of applications | 80% | 100% |
*Mitigation: Service levels were affected by staffing changes during the quarter. Recruitment is underway to restore capacity and support the timely processing of applications.
Meets or Exceeds Target
Less than 10% Variance from Target
Greater than 10% Variance from Target
| Service | Standard | Status | YTD Performance Score (%) | Q4 Performance Score (%) | Standard Performance Target (%) | Standard Stretch Target (%) |
|---|---|---|---|---|---|---|
| Telephone Inquiries | We will respond to general questions when calls are received. Complex questions and complaints will be forwarded to the appropriate area to log, investigate, and respond. |
| 100% of calls | 100% of calls | 90% | 98% |
| Telephone Voicemail Inquiries | Calls that are received through voicemail will be acknowledged within 1 business day. |
| 100% of voicemails | 100% of voicemails | 90% | 98% |
| Email Inquiries | Emails received through the Contact Centre will be acknowledged within 1 business day and a response sent within 3 business days. For complex matters, we may request additional information and these requests may take longer for a formal response. |
| 90.9% of emails | 85.8%* of emails | 90% | 98% |
| Web content requests | FSRA will respond within 5 business days to a requestor of web content in accessible format. Following discussions with the requestor, FSRA will provide agreed-upon web content (excluding online applications), in an accessible format within 5 business days. |
| 100% of complex response emails | N/A1 | 90% | 98% |
| Print content requests | FSRA will respond within 5 business days to a requestor of print publication in an accessible format. Following discussions with the requestor, FSRA will provide the agreed-upon publication material in an accessible format within 5 business days. |
| 100% of web account emails | N/A2 | 90% | 98% |
| Inquiry (web) | All inquiries directed to the Web Manager e-mail account will be concluded and/or responded to within 5 business days. |
| 100% of web content requests | N/A3 | 95% | 100% |
*Mitigation: Performance was impacted by short-term operational challenges. Staffing capacity is being strengthened to improve responsiveness and support service levels.
1 FSRA did not receive requests for web content in Q4 FY2025-26.
2 FSRA did not receive requests for print publication in Q4 FY2025-26.
3 FSRA did not receive web inquiries in Q4 FY2025-26.
Previous reports
Looking for previous service standard results? Check out our Annual Report page for yearly data. For results from a specific past quarter, please Contact us directly.