Technical Advisory Committee for Auto Rates and Underwriting Regulation Reform
Summary of the meeting of November 27, 2024
TAC members present:
Name |
Organization |
---|---|
Greg Robertson |
Robertson Insurance Broker |
Malcolm Winer |
Travelers |
Maria Benjamins |
DGIG |
Evgueni Venkov |
Aviva |
Sherene Hariprasad |
CAA |
Stephane McGee |
Onlia |
Steve Cohen |
Rates.ca |
Todd Saunders |
Cooperators |
Trevor Foster |
IBC |
Warren Ting |
Hamiton Township Mutual Insurance |
Lydia Roy |
TD |
Brad Neilson |
Intact |
Jennifer Power |
Allstate |
Julie Nolette |
Intact |
Deborah Upton |
Gore Mutual |
Edward Lam |
Definity |
Karen Galt |
Allstate |
Rob Cao |
Gore Mutual |
FSRA members and external attendees present:
Auto/P&C Policy |
Chris Georgakopoulos, Jonas Schwab-Pflug, Rheena Arthur, John McKee, Gage Thavarajakulasingam, Tyler Valdron |
---|---|
Auto/Insurance Products |
Cong Wang, Nada Fraij, Michelle Dodokin, Qiaoji Xu, Dilshad Kanji, Saad Opal |
General comments:
The fifth Auto Rates and Underwriting Regulation Reform (ARURR) Technical Advisory Committee (TAC) meeting focused on FSRA’s proposed accreditation process, fast-track rate filings, and future Filing Manual.
Auto Insurance Rating and Underwriting Supervision Guidance:
The discussion centered on the fast-track filing stream, the accreditation process, expedited timelines, and types of filings eligible for accreditation. The committee also discussed the possible misuse of accreditation benefits.
Fairness assessments:
The committee discussed fairness assessments with a focus on fair consumer outcomes and associated standards. The committee also discussed the evaluation process, preparedness for the new supervisory approach, and the application of principles-based regulation.
FSRA also discussed extending the committees term for another year.