Consultation on the 2025 Draft Ontario Private Passenger Vehicles Annual Review

Thank you for providing your feedback on FSRA’s consultation on the 2025 Draft Ontario Private Passenger Vehicles Annual Review.

The request for submissions is now closed.

We appreciate the comments and questions received to date and look forward to sharing with you the final Guidance. Stay up to date on Guidance releases on our newsroom. Follow us on LinkedIn and subscribe to our mailing list for quick updates.

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.

This document will help determine average industry costs and trends to inform the setting of future rates.

The Annual Review includes the following data as of December 31, 2024:

• 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 excess inflation on the loss experience

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 29, 2025.

Learn more:

• Draft Ontario Private Passenger Vehicles Annual Review
  This PDF is available in AODA format upon request.