Have your say: Draft Ontario Private Passenger Annual Review open for feedback!
Ontario’s Financial Services Regulator (FSRA) is committed to making sure consumers have access to auto insurance rates that are fair and reasonable.
To support this, FSRA is now consulting on the Draft Ontario Private Passenger Vehicles Annual Review.
The Annual Review looks at auto insurance trends using private passenger vehicle industry data as of December 31, 2023, including:
- changes in the number of insured vehicles, average premiums, and average loss costs per vehicle over the last ten years
- historical expense costs, return on investment income rates, and profit levels reported by insurers in Ontario
- estimated ultimate loss amounts and claim counts for private passenger vehicles
- the cost impact of Bill 15 and Bill 91 reforms
- the impact of COVID-19 and inflation on the loss experience
- post-pandemic frequency level
FSRA will continue to consult annually and update benchmarks twice a year to guide the rate approvals decision process.
The consultation on the Annual Review is now open and will close on September 16, 2024.
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.