FSRA Consumer Advisory Panel

Meeting 2 – September 9, 2025 
Meeting notes

Panel members

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

Regrets:

Laura Tamblyn Watts

FSRA staff/presenters

Glen Padassery, EVP, Policy & Auto Insurance
Antoinette Leung, EVP, Market Conduct
Jordan Solway, EVP, Legal & Enforcement
Meghan Kilty, Chief Public Affairs Officer
Stuart Wilkinson, Chief Consumer Officer
Chris Zolis, Head, Forensic Analysis and Investigations
Daniel Padro, Head, Core Regulatory Policy
Erica Hiemstra, Head, Market Conduct
Joel Gorlick, Head, Cross-Sectoral Policy
Michelle Dodokin, Head, Auto/Insurance Products
Swati Agrawal, Head, Market Conduct Life and Health Insurance Companies & MGAs
Elissa Sinha, Director, Litigation and Enforcement & Deputy General Counsel
Jeff Sweeting, Director, Policy – Credit Union, Insurance Prudential and Pensions
Sharon Tellis, Director, Auto/Insurance Products
Stephanie Appave, Director, Innovation Policy
Tim Miflin, Director, Market Conduct Policy
Yovanka McBean, Director, Licensing, Market Conduct
Andrea Foy, Senior Manager, Licensing & Title Protection Policy
Leanne Westcott, Senior Manager, Policy and Operations
Thera Medcof, Senior Manager, Market Conduct
Scott Boutilier, Senior Policy & Technical Lead, Innovation
Diana Green, Senior Policy & Technical Lead, Consumer Office
Dillon Byrd, Project Assistant, Policy

Ministry observer

Marlo Spence Lair – Director, Capital Markets & Agency Relations Branch, Ministry of Finance
Amber Robidoux – Policy Advisor, Agency Relations and Regulatory Policy Unit, Ministry of Finance
Fatima Niyaz – Policy Lead, Agency Relations and Regulatory Policy Unit, Ministry of Finance
Krista Teichroeb – Senior Manager, Agency Relations and Regulatory Policy Unit, Ministry of Finance

Summary:

  • FSRA presented to, and received questions and feedback from, the Panel on the supervision of life insurance agents, the proposed life and health insurance managing general agent (MGA) rule, enforcement metrics, the fraud reporting service rule, and the developing Point of Sale Test and Learn Environment.
  • The Panel reviewed updates about topics discussed at its April 10, 2025 meeting and recent submissions made to FSRA.
  • The Panel also discussed the structure of its working groups and future general meetings.

Item 1: Welcome and introductory

Item 2: Life Insurance Agents 2024-2025 Supervision Results and 2025-2026 Supervision Plan

  • FSRA provided a report on the 2024-2025 Life Insurance Agents Supervision Results as well as plans for Supervision for 2025-2026.
    • Components of the 2025-2026 supervision plan include:
      • improving the effectiveness of the Life Agent Misconduct Report (LAMR) process
      • including reporting and trends analysis
      • monitoring the movement of 200+ life agents identified through the LAMR program
      • engaging in proactive supervision through the sharing of trends, risk-based examination, and launching a Business Practice Compliance Questionnaire (BPACQ) pilot
  • Panel members asked questions about the challenges the supervisory team faces, including the nature of complaints related to LAMR, the transparency of the LAMR process, compliance with the LAMR process, as well as the number of life agents currently registered in Ontario.
  • The Panel also gave suggestions for improving the supervision of life insurance agents, including directly addressing agent movement, encouraging FSRA to refine the BPACQ pilot, engaging with insurers that have not submitted any LAMRs to ensure FSRA is receiving data for the whole sector, and further encouraging mandatory disclosure of information about the regulator on all consumer-facing documents.

Item 3: Life and Health Insurance – Managing General Agents Rule

  • FSRA presented the revised proposed rule and regulatory framework for life and health insurance managing general agents (MGAs) to the Panel, including key objectives, previous stakeholder feedback, and FSRA’s response to the Panel’s previous written feedback.
  • FSRA noted that the proposed rule currently includes an annual information requirement to review non-filing and non-compliance. Additionally, FSRA has mechanisms in place for non-filing, including progressive discipline when filing requirements are not maintained.
  • Once the rule takes effect, it will include the criteria defining MGAs, and existing entities under the criteria will be required to reach out to FSRA to report compliance with the applicable requirements in the rule.
  • The Panel suggested FSRA create a chart that will help consumers better understand the complexity of relationships within the insurance industry. Additionally, the Panel suggested developing a short document to guide consumers through obtaining insurance, to educate and support them through this complex system.

Item 4: Legal – Enforcement metrics report

  • FSRA presented the Panel with a report on FSRA’s enforcement metrics. The report noted that enforcement volumes, sanctions imposed, and proposals initiated have increased year-over-year, with most enforcement measures continuing to be in the mortgage brokering and life and health insurance sectors.
  • The Panel asked about FSRA’s ability to collect on Administrative Monetary Penalties (AMPs), whether additional tools are needed, and how enforcement actions are communicated to the public.
  • The Panel recommended that FSRA be given authority to implement a disgorgement framework similar to what the Ontario Securities Commission (OSC) has.
  • The Panel encouraged FSRA to provide consumers with more real-time information on enforcement proceedings, so they might be more aware and protected from potential consumer harm. The Panel suggested that using real-life stories and examples of consumer harm that led to enforcement action could help make the issue more relatable and easier for consumers to understand.

Item 5: Auto Insurance – Fraud Reporting Services Rule and Guidance and its implementation

  • FSRA shared an overview of the Fraud Reporting Service (FRS) Rule and Guidance with the Panel, including its forthcoming implementation. The FRS is one pillar of the larger Fraud and Abuse Strategy for the auto insurance sector. The Rule and Guidance will take effect when the government has proclaimed into force related changes to the Insurance Act.
  • The FRS is intended to help:
    • quantify the prevalence of automobile insurance fraud in Ontario
    • create a baseline for fraud detection
    • identify trends throughout the automobile insurance industry
  • Panel members asked questions regarding information sharing, when findings or patterns of auto insurance fraud would be communicated to consumers, the collection of personal information, and the possibility of investigating fraud in other sectors.

Item 6: Auto Insurance – Test and Learn Environment – Point of Sale

  • FSRA presented the Panel with an overview of the development of the Point of Sale Test and Learn Environment (TLE).
  • TLE is a regulatory sandbox that provides dedicated space to test new ideas with real consumers, to evaluate whether the idea benefits consumers. The Point of Sale TLE would enable approved applicants to sell automobile insurance at motor vehicle dealerships.
  • FSRA detailed the TLE process, how FSRA is responsible for ensuring compliance requirements, disclosures, and guardrails are in place to protect consumers. It also highlighted that the Panel’s input on consumer protection risks has informed design and process details regarding this TLE.
  • The Panel asked about other examples of TLEs FSRA has tested and how benefits and effectiveness of this model would be assessed.
    • FSRA highlighted the ongoing Territories and Direct Access Model as examples of previous TLEs, and noted that performance metrics are being identified so that success can be measured for the Point of Sale TLE.
  • The Panel also asked FSRA to include enhancements to consumer safety, such as disclosure documents, cooling off periods, and providing documents in other languages for newcomers. There are existing platforms automobile dealerships use that could be interested in this product. The Panel emphasized that FSRA should evaluate the benefit to consumer and their protection while balancing commercial interests.

Item 7: Consumer Office – Previous meeting outcomes and recap of recent submissions

  • The Panel suggested a database or portal would be helpful for keeping track of the Panel submissions, engagements, and past discussions.
  • The Panel Co-Chairs thanked everyone for their attendance and concluded the meeting.

Next meeting:

  • Monday, November 17, 2025, from 12:00pm until 4:00pm – In Person Meeting.