The Approach Guidance for Ontario Private Passenger Automobile Annual Review specifies the Benchmarks for loss trend rates and reform factors (“Benchmarks”) and other key actuarial assumptions that assist FSRA in reviewing Private Passenger Automobile (“PPA”) insurance rate filing applications based on statutory requirements.

The majority of premiums an insurer collects pays for losses that its customers will incur in the future. To estimate these future losses, the insurer relies on a variety of assumptions. FSRA regulates Ontario automobile insurance rates and uses the Benchmarks to evaluate if an insurer’s assumptions are appropriate when the insurer seeks approval for changes to its rates.

Ratemaking Benchmarks are used to evaluate:

  • fair rates for consumers
  • market competition
  • market health

The table below provides a quick reference to all Guidances, consultation summaries, and benchmarking reports produced since May 15, 2020.

Benchmark Effective periodGISA data evaluation dateGuidanceConsultation summarySupporting report
April 1, 2026June 30, 2025Current GuidanceN/AOliver Wyman report: “Ontario Private Passenger Vehicles Annual Review”
PDFs in AODA format are available upon request.
December 11, 2025December 31, 2024"2024-H2 Guidance"“2024-H2 Consultation Summary”Oliver Wyman report: “Ontario Private Passenger Vehicles Annual Review”
PDFs in AODA format are available upon request.
April 11, 2025June 30, 2024"2024-H1 Guidance"N/AOliver Wyman report: “Ontario Private Passenger Vehicles Mid-Year Review”
PDFs in AODA format are available upon request.
November 19, 2024December 31, 2023“2023-H2 Guidance”“2023-H2 Consultation Summary”Oliver Wyman report: “Ontario Private Passenger Vehicles Annual Review”
March 22, 2024June 30, 2023"2023-H1 Guidance"N/AOliver Wyman report: “Ontario Private Passenger Vehicles Mid-Year Review”
December 12, 2023December 31, 2022"2022-H2 Guidance"“2022-H2 Consultation Summary”Oliver Wyman Report: “Ontario Private Passenger Vehicles Annual Review”

Pinnacle Report: “Territory Rating Review Report”
March 8, 2023June 30, 2022"2022-H1 Guidance"N/AOliver Wyman Report: “Ontario Private Passenger Vehicles Mid-Year Review”
December 20, 2022December 31, 2021"2021-H2 Guidance"“2021-H2 Consultation Summary”Oliver Wyman Report: “Ontario Private Passenger Vehicles Annual Review”

Pinnacle Report: “Territory Rating Review Report”
January 31, 2022June 30, 2021"2021-H1 Guidance"N/AOliver Wyman Report: “Ontario Private Passenger Vehicles Mid-Year Review”
October 20, 2021December 31, 2020"2020-H2 Guidance""2020-H2 Consultation Summary"Oliver Wyman Report: “Ontario Private Passenger Vehicles Annual Review”
June 30, 2021June 30, 2020”2020-H1 Guidance”N/AOliver Wyman Report: “Ontario Selected Private Passenger Vehicles Loss Trend Rates and Reform Factors”
September 23, 2020December 30, 2019”2019-H2 Guidance”“2019-H2 Consultation Summary”Oliver Wyman Report: “Ontario Selected Private Passenger Vehicles Loss Trend Rates and Reform Factors”
May 15, 2020June 30, 2019“2019-H1 Guidance”“2019-H1 Consultation Summary”Oliver Wyman Report: “Ontario Selected Private Passenger Vehicles Loss Trend Rates and Reform Factors”