Driving fairer Auto Insurance rates for consumers
The Financial Services Regulatory Authority of Ontario (FSRA), is changing how it oversees auto insurance to better protect consumers and support a competitive marketplace. The new model focuses on fair pricing, clear communication, and greater transparency.
The new model also provides more flexibility for insurers to innovate and streamline certain filing processes.
These changes are supported by FSRA’s final Automobile Insurance Rating and Underwriting Guidance.
The Guidance reflects FSRA’s move to a principle-based and outcomes-focused supervisory approach. It defines what fair treatment of consumers looks like, introduces an accreditation process for insurers, and sets new filing privileges and requirements for both accredited and non-accredited insurers.
FSRA will continue to work with the industry to support them through the implementation of the new model before the Guidance takes effect.
Learn more
FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone. Learn more at www.fsrao.ca.