Technical Advisory Committee for Auto Insurance Rates and Underwriting Regulation

Introduction

FSRA is improving how it regulates auto insurance rates and underwriting in Ontario through the introduction of a new supervisory model. The new approach is designed to support a more principles‑based, risk-based, and outcomes‑focused approach to regulation, enabling insurers to deliver better value for consumers by reducing regulatory lag, increasing flexibility for innovation that provides consumer benefit, and incentivizing  insurers to align with FSRA’s Fair Consumer Outcomes, as set out in the Automobile Insurance Rating and Underwriting Guidance.

This new approach to rating and underwriting supervision represents a major shift in Ontario’s auto insurance regulatory environment and will have important implications for consumers and the insurers that serve them. The multi-faceted, high-impact nature of this work makes stakeholder collaboration critical. To facilitate that collaboration, FSRA is launching a new Auto Insurance Rates and Underwriting Regulation Technical Advisory Committee (“TAC”).

Consumer‑centred mandate and scope

The TAC will provide expert advice to inform FSRA’s work in regulating auto insurance rates and underwriting, as well as advancing related policy initiatives.

The TAC will be required to:

  • share operational expertise to assist FSRA with effectively implementing its new rating and underwriting supervisory model, including the new rating and underwriting filing process and accreditation assessments
  • offer technical input to support the development of future FSRA Guidance related to auto insurance rates and underwriting regulation, such as the Annual Review Guidance
  • evaluate the consumer impact of potential policy changes related to auto insurance, including matters of fairness, transparency, accessibility, and other emerging issues

The TAC’s advice and recommendations will be consistent with FSRA’s mandate and align with FSRA’s principles-based, risk-based, and outcomes-focused approach to regulation.

Technical Advisory Committee membership

Nomination process

FSRA is issuing an open call for members.

 

The details of the nomination process are outlined in this document and will also be available on www.fsrao.ca.

Committee size

The TAC will consist of 10-12 members, excluding FSRA observers.

 

FSRA may add or remove members at its discretion.

Member qualifications

Members should be senior representatives of their organization or profession, with the authority to provide direct advice on matters related to the regulation of auto insurance rates and underwriting.

 

Members should also be thought leaders who can contribute to the development of multi-faceted reforms and who are prepared to place appropriate emphasis on consumer interests while considering industry impacts.

 

FSRA is seeking individuals with subject-matter and technical expertise relevant to the TAC’s mandate and scope. Selection will prioritize experience in one or more of the following areas to ensure a broad range of perspectives:

  • actuarial science and ratemaking
  • underwriting
  • auto insurance products
  • claims
  • business strategy
  • risk management and governance
  • process automation and AI-assisted decision-making
  • change management and large-scale implementation
  • distribution channels and aggregators
  • consumer complaint resolution
  • digital consumer experience

Other selection factors may include geography, specialization, and the size or type of organization represented.

Member responsibilities

FSRA expects members to:

  • review background materials in preparation for meetings
  • participate actively and constructively during meetings
  • provide advice, feedback, and recommendations on matters brought to the committee for consideration
  • complete post-meeting tasks or follow-up activities
  • promote consensus positions within the broader stakeholder community
  • offer feedback to FSRA on the functioning of the committee

Meetings and time commitment

The TAC is expected to meet on a quarterly basis, with additional meetings scheduled as required. FSRA may also establish TAC subgroups composed of select members to advance work on priority issues. Meetings will be held with a preference for in-person attendance.

FSRA will provide an agenda and background materials at least one week in advance of each meeting. Following each meeting, FSRA will publish meeting minutes and a high-level summary of the TAC’s work on its website.

FSRA expects the TAC to complete its mandate on or before Dec 31st, 2027. FSRA may extend the TAC’s term if required.

Confidentiality

Members of the TAC may, when necessary, consult with co-workers or industry collaborators while fulfilling their TAC responsibilities. However, prior written consent from FSRA is required before any TAC information or materials are shared outside of the committee.

Until the TAC’s mandate is complete, TAC members and any individuals supporting them are required to maintain confidentiality, except for information that FSRA has made public.

Media inquiries / Public appearances

Members of the TAC are not authorized to engage with the media or conduct media interviews in their capacity as TAC members. If contacted by the media, TAC members must direct all inquiries to FSRA’s Sr. Manager, Media Relations, who will determine the appropriate spokesperson and/or response. TAC members do not represent FSRA publicly. Their role is to provide confidential advice to FSRA management and the Board.

FSRA’s Sr. Manager, Media Relations, in consultation with the Chief Public Affairs Officer and the responsible EVP, will determine the most appropriate spokesperson and/or response to any media inquiries or public speaking requests related to the TAC.