FSRA has made the decision to delay the posting of 2020 Q1 rates to ensure FSRA and industry can focus on delivering consumer relief. FSRA resources have been focused on delivering guidance to the insurance industry on measures they can undertake to provide relief to their customers during the current emergency situation. Many insurers have proposed changes to previous filings, such as delaying the implementation dates until the end of the declared emergency, as part of their overall approach to providing relief measures for their customers.
FSRA will continue to monitor the situation and will reassess as necessary to determine an appropriate time for posting rate decisions.
The Financial Services Regulatory Authority of Ontario (FSRA) is committed to providing, and improving, transparency for Ontarians, including the province’s 10 million auto insurance consumers.