Auto Insurance
Public comment closed
Comment Due Date

Thank you for providing your feedback on FSRA’s proposed Operational Risk Management Framework in Rating and Underwriting of Automobile Insurance Guidance.

We appreciate the comments received to date. Your feedback will help to inform our final guidance.

The request for submissions is now closed.

The proposed Operational Risk Management (ORM) guidance is principles-based and outcomes-focused. The future of ORM requires accountability and sound governance in the auto insurance sector. It ensures that consumers are being charged just, reasonable, and accurate rates and are being treated fairly in the underwriting process.

The proposed guidance outlines foundational and sound practices for ORM in the rating and underwriting of automobile insurance, including:

  • The ORM cycle (e.g., risk identification and monitoring)
  • Foundational practices (e.g., defining risk appetite and defining roles)
  • Model governance

FSRA is also consulting on: Proposed Guidance for Reporting and Resolution of Automobile Insurance Rating and Underwriting Errors and Proposed Guidance for Automobile Insurance Non-Standard Forms, Endorsements and Certificates of Insurance Approval Filing Process.

The consultation period is now open and will close on February 25, 2022.

Useful links:


Before we begin, please make sure you do not include any personal or private financial information. If your inquiry does require this information be shared with us, please call us at 1-800-668-0128 or email us at [email protected] for instructions.

By submitting your content, you agree to have your materials posted on our engagement portal, used in reports and other materials prepared by Financial Services Regulatory Authority of Ontario (FSRA) that may be shared with the public. Content is moderated so that all posts are respectful and professional. The Freedom of Information and Protection of Privacy Act, R.S.O. 1990, c.F.31, applies to all online content.

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Sector Comment Date posted Sort ascending
Auto Insurance
[2021-023] Ryan Stein - Economical Insurance

Auto Insurance
[2021-023] Amelie Beauregard - VP, Home and Auto Pricing - Co-operators
This is a duplicate submission with a correction.
A previous version, submitted a couple of hours ago, had a typo.
Please use this version for the public copy. Thank you.
Auto Insurance
[2021-023] Catherine Allman - Canadian Association of Direct Relationship Insurers
Please find attached CADRI's combined submission to 2021-21 and 2021-23.
Auto Insurance
[2021-023] Kim Donaldson - IBC
Attached is IBC's Submission.
Thank you,

Auto Insurance
[2021-023] Scott Parry - Desjardins General Insurance Group (DGIG)
On behalf of Desjardins General Insurance Group (DGIG), I am pleased to respond to your request for comment on the Proposed Guidance for Operational Risk Management Framework in Rating and Underwriting of Automobile Insurance.
Thank you for the opportunity to provide our commentary.
-Scott Parry

Auto Insurance
[2021-023] Ryan Stein - Economical
Good morning,

Thank you for the opportunity to comment. Attached is Economical's response. Please note that it covers three consultations: operational risk management, reporting of rating/underwriting errors, and the approval process for forms/endorsements.


Auto Insurance
[2021-023] Matt Caron - Ontario Trial Lawyers Association
Please find our comments attached.
Property and Casualty and General Insurance
[2021-023] John Taylor - Ontario Mutual Insurance Association

No questions have been asked about this consultation yet.