FSRA Consumer Advisory Panel

Meeting 1 – April 10, 2025
Meeting notes

Panel members

Lucy Becker, Co-Chair
Harvey Naglie, Co-Chair
Laura Tamblyn Watts, Past Chair
Ellen Bessner
Julie Kuzmic
Ninette Ibanez
Peter D’Iorio
Terri Williams Kinghorn
Zahir Dharsee
Edwin Weinstein
Liisa Woolley
Samuel Lichtman
Karina Souza

Regrets:

Leeann Corbeil

FSRA staff / presenters

Dexter John, Chief Executive Officer
Glen Padassary, EVP, Policy / EVP, Auto Insurance
Jordan Solway, EVP, Legal & Enforcement
Joan Small, Senior Legal Counsel, Principles-Based Regulation, Strategy
Meghan Kilty, Chief Public Affairs Officer
Stuart Wilkinson, Chief Consumer Officer
Chris Zolis, Head, Forensic Analysis and Investigations, Enforcement
Joel Gorlick, Head, Cross Sectoral Policy
Lucy Kang, Director, Policy – Market Conduct
Dan Miles, Director, Corporate Communications
Elissa Sinha, Director, Litigation & Enforcement and Deputy General Counsel
Victoria Lesau, Director, Policy – Credit Union, Insurance Prudential and Pensions
Leanne Westcott, Senior Manager, Policy and Operations
Trevor McKillop, Senior Manager, Strategic Policy
Diana Green, Senior Policy & Technical Lead, Consumer Office
Francina Contreras Gomez, Policy and Program Advisor
Dillon Byrd, Project Assistant, Policy
Carley Bellissimo, Senior Manager Communications
Sarah Wilson, Sr. Advisor, Communications, Public Affairs
Lesley Fennelly, Senior Advisor, Communications
Stephen Knight, Senior Advisor, Communications

Ministry observer

Marlo Spence Lair – Director, Capital Markets & Agency Relations Branch, Ministry of Finance

Summary:

  • FSRA CEO, Dexter John, thanked the Panel for the work they do in bringing valuable consumer protection considerations forward to benefit Ontario consumers.
  • FSRA provided a presentation on principles-based regulation.
  • The Consumer Office provided an update on the Panel’s previous meeting, planning for the 2025-2026 term, and details regarding the Panel’s meeting with the FSRA Board of Directors on May 9, 2025.
  • The Panel Co-Chairs presented potential topics for the Panel meeting with the FSRA Board of Directors on May 9, 2025, and the Panel discussed strategies and identified important topics for the upcoming meeting.

Item 1: Welcome and introductory

Item 2: New CEO introduction

  • FSRA’s CEO, Dexter John, introduced himself and expressed gratitude to Laura Tamblyn Watts for her leadership as Chair of the Consumer Advisory Panel, and continuing as Past Chair. He also thanked both returning and new members for their participation in the Panel, emphasizing the importance of consumer protection in Ontario.
  • Panel Co-Chair thanked Mr. John and echoed his appreciation for Laura Tamblyn Watts and the work she has done on behalf of the Panel.

Item 3: Principles-Based Regulation in FSRA

  • FSRA presented the Panel with an overview of principles-based regulation (PBR).
  • FSRA discussed the history of PBR, gave examples of regulatory challenges, the limitations of prescriptive regulation, and the benefits that a PBR approach to regulation can afford. The presentation also highlighted the risk-based, outcomes-based, and principles-based approach FSRA takes to regulation, and highlighted what PBR is not.
  • FSRA provided examples of consumer protection under PBR, such as when FSRA launched guidance for insurers to provide financial relief during a declared emergency during COVID, the Take-All-Comers Guidance, and FSRA’s work with MGAs in the Life and Health insurance sector.
  • Panel Co-Chairs thanked FSRA for the presentation and highlighted the desire of the Panel to explore ways of further informing and empowering consumers in Ontario.
  • They noted PBR’s benefits are its flexibility and allowance for innovation but suggested consumers might struggle with comfort around what they should expect of regulated entities. They also emphasized the importance of transparency and communication.

Item 4: Previous meeting outcomes and recap

  • The Consumer Office provided an overview of the topics discussed during the Panel’s last meeting in November 2024.
  • The Consumer Office noted FSRA’s fourth stakeholder survey was released on April 8, 2025. In addition to the survey to gather stakeholder feedback interviews will be held with the Panel members.

Item 5: 2025-2026 term planning

  • The Consumer Office presented an overview of the 2025-26 term's meetings and provided a list of potential topics for proposals, gathered from across FSRA that were identified as key opportunities for engaging the Panel at various levels. They also provided a list of working groups for consideration to continue this term.
  • Panel Co-Chair emphasized the importance of working groups as the mechanism the Panel uses to investigate sector-specific issues and proposals. They encouraged members to join working groups and indicate interest in any existing or potential groups they think would be of value.

Item 6: Board update planning

  • The Consumer Office provided an overview of the in-person meeting with the FSRA Board. A summary of last year’s meeting was provided. The Consumer Office will support the Panel in producing materials for the Board presentation.

Item 7: Panel leadership presentation

  • Panel Co-Chairs provided an overview of the opportunity for the Panel to present to the FSRA Board. The overview suggested focusing on cross-sectoral themes that could inform FSRA’s work and recommended using the Co-Chairs’ leadership presentation as the basis for the presentation and submission to the Board.
  • The members discussed potential topics and approaches they would like to take in their presentation to the Board.

Item 8: Closing remarks

  • Panel Co-Chairs thanked the Panel for their work and ideas for meeting with FSRA’s Board of Director. They asked the Panel to collaborate on the forthcoming draft presentation document.