Enabling Ontario Insurers to maintain stability and long-term viability

To help Insurers more effectively manage their risks and maintain adequate capital, Ontario’s financial services regulator, FSRA, is proposing an Own Risk and Solvency Assessment (ORSA) guidance.

The guidance focuses on Ontario-incorporated Insurance Companies and Reciprocal Insurance Exchanges (Insurers).

An effective ORSA protects the rights and interests of consumers as Insurers that effectively manage their risks and maintain adequate capital above regulatory capital levels under a range of plausible adverse scenarios enables them to maintain stability, long-term viability and meet their policyholders’, members’ and subscribers’ obligations.

Please forward the webinar invitation to the relevant individuals within your institutions.

Leading the webinar will be:

• Samreen Hossain – Director, Insurance Prudential Supervision
• Victoria Lesau – Director, Policy, Credit Union, Insurance Prudential, and Pensions
• David Maxwell – Head, Regulation and Strategic Initiatives
• Steve Kokaliaris – Director, Approvals and Supervisory Practice

Your takeaways will be:

• an understanding of FSRA’s approach to reviewing an Insurer’s ORSA
• an understanding of the principles guiding an Insurers’ ORSA and the intended outcomes of an effective ORSA
• an opportunity to ask questions directly to FSRA staff

Learn more:

• Consultation on proposed Own Risk and Solvency Assessment (ORSA) Guidance for Ontario insurers

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.