ID
2024-013

Type
Policy
Sector
Property and Casualty and General Insurance
Status
Public comment closed
Date
Comment Due Date

Thank you for providing your feedback on FSRA’s consultation on proposed Own Risk and Solvency Assessment (ORSA) Guidance for Ontario insurers.

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.

FSRA is launching public consultation on its proposed Own Risk and Solvency Assessment (ORSA) guidance for Ontario-incorporated Insurance Companies and Reciprocal Insurance Exchanges (Insurers).

An effective ORSA protects the rights and interests of consumers as Insurers that effectively manage their risks and maintain adequate capital above regulatory capital levels under a range of plausible adverse scenarios enables them to maintain stability, long-term viability and meet their policyholders’, members’ and subscribers’ obligations.

FSRA is now seeking feedback on its proposed ORSA guidance. The consultation will close on January 28, 2025.

Learn more:

Sector Comment Date posted
Property and Casualty and General Insurance
[2024-013] André Bourbonnière - Poultry Insurance Exchange (PIE)
Property and Casualty and General Insurance
[2024-013] Vivienne Penfound - Ontario School Boards' Insurance Exchange
Good afternoon,
Please see attached letter from OSBIE.


Property and Casualty and General Insurance
[2024-013] Patrick Lundy - CURIE Canadian Universities Reciprocal Insurance Exchange
January 28, 2025
[submitted via FSRA website]
Financial Services Regulatory Authority of Ontario
25 Sheppard Avenue West, Suite 100
Toronto, ON M2N 6S6
RE:
Identifier: No. PC0055APP: Proposed Guidance: Own Risk and Solvency Assessment (ORSA) for Ontario-incorporated Insurance Companies and Reciprocal Insurance Exchanges.

We are pleased to provide the Financial Services Regulatory Authority of Ontario ("FSRA") with our comments in connection with the above-noted Proposed Guidance.

Sincerest regards

Patrick D. Lundy
CEO & Attorney-In-Fact, CURIE
Property and Casualty and General Insurance
[2024-013] Craig Pettigrew - CAIR
Please see attached response from the Canadian Association of Insurance Reciprocals (CAIR), Ontario sub group regarding PC0055APP Proposed Own Risk and Solvency Assessment (ORSA) for Ontario-incorporated Insurance Companies and Reciprocal Insurance Exchanges.
Property and Casualty and General Insurance
[2024-013] John Taylor - Ontario Mutual Insurance Association
Please find attached the Ontario Mutual Insurance Association's response to this Guidance.
Property and Casualty and General Insurance
[2024-013] Alister Campbell - PACICC
Please find attached letter from the Property and Casualty Insurance Compensation Corporation on the ORSA consultation.
No questions have been asked about this consultation yet.