FSRA Property & Casualty Insurance (P&C) Stakeholder Advisory Committee (SAC) meeting with FSRA Board of Directors
Summary of the May 8, 2025 meeting
In person and virtually via Teams
SAC members present:
Elliott Silverstein - CAA Club Group
Enrico Mastrangeli - Commonwell
Greg Smith - Crawford & Company (Canada) Inc.
Jesse Travis - Intact Financial Corporation
John Taylor - Ontario Mutual Insurance Association
Maria Benjamins - Desjardins
Nicole Seymour - Lloyds of London
Susan Williams-Bonet - Wawanesa Mutual Insurance Company
Liam McGuinty - Insurance Bureau of Canada (IBC)
FSRA board members present:
Joanne De Laurentiis – Chair of the Board
Joseph Iannicelli – Director
Peggy McCallum – Director
Ali Salahuddin – Director
Lucie Tedesco – Director
Rob Wellstood – Director
Stewart Lyons – Director
Doug Turnbull – Director
Steve Geist – Director
FSRA management members present:
Huston Loke – Executive Vice Present, Market Conduct
Glen Padassery – Executive Vice President, Policy
Jordan Solway – Executive Vice President, Legal and Enforcement
Meghan Kilty – Chief Public Affairs Officer
Erica Hiemstra – Head, Insurance Conduct, Market Conduct
Beata Morris, Director, Market Conduct – P&C Insurance
Daniel Padro - Head, Policy - Core Regulatory
Danelle Brown – Corporate Secretary & Deputy General Counsel
Mehrdad Rastan – EVP, Credit Union and Insurance Prudential
Andrea Foy – Senior Manager, Licensing and Title Protection Policy
John Buenavides – Senior Manager, Market Conduct – P&C Insurance
General comments:
The Chair of the Board welcomed the SAC members and provided introductory remarks about the importance of engagement with the SAC.
FSRA’s EVP, Market Conduct provided a summary of key FSRA initiatives underway, including licensing process improvements, Managing General Agencies (MGAs) in the P&C sector and working with the Canadian Council of Insurance Regulators (CCIR) on climate change, particularly consumer education.
Frequency and severity of natural catastrophes
The SAC members provided feedback on cost pressures relating to the frequency and severity of weather events across the country, including construction costs and skilled labour shortages.
Regulatory Burden
The SAC members expressed support for labour mobility during severe weather events and FSRA’s undertaking process to support insurers and adjusting firms in achieving good consumer outcomes quickly and efficiently. SAC members also discussed the importance of a national flood program and how FSRA can provide support in bringing this conversation to government partners.
Other Topics Discussed
SAC members also discussed auto theft, integrated regulation and P&C Managing General Agencies.
Closing remarks from the Chair
The Chair thanked the SAC members for their input.