Non-Auto P&C Insurance Technical Advisory Committee meeting summary
Date: Wednesday January 24, 2024
Time: 1:00 pm to 3:00 pm
Location: 25 Sheppard Avenue West, Suite 100, Toronto, ON M2N
This Summary sets out the key points discussed at the January 24, 2024, meeting.
Welcome
TAC members were welcomed and introduced to the inaugural Non-Auto Property & Casualty Technical Advisory Committee Meeting.
About FSRA
TAC Members were provided background on FSRA’s role as the Market Conduct Regulator and its current focus towards the Non-Auto P&C Insurance Sector.
Non-Auto P&C Insurance Supervisory Framework
Presented overview of FSRA’s review and other work that will contribute to the development of a Non-Auto P&C Insurance Supervisory Framework.
Home Insurance FTC Review
Presented the status of FSRA’s Home Insurance FTC Review that is reviewing insurer practices and fair treatment of consumers in the handling of Home Insurance claims.
P&C insurer-MGA Review
Presented background, status, and planned work of FSRA’s review of the insurer-MGA relationship.
TAC feedback and recommendation
Discussed where advice may be sought from the TAC for FSRA’s various reviews and ongoing work.
Next meeting
The next meeting of the committee will be scheduled for May 1, 2024, from 1:00 pm to 3:00 pm. In addition, ad hoc meetings with groups of TAC members will be scheduled March 6 and 7, 2024 to provide feedback on planned work on the P&C Insurer-MGA Review.
Attendance record
|
Invited/Attended |
Company name |
Attendance status |
|---|---|---|
| Terry Dodsworth | Aon Reed Stenhouse Inc. | A |
| Stacey Fobear | Desjardins General Insurance Group Inc. | A |
| Marco Gorgonio | Allstate Canada Group of Companies | A |
| Pam Marson | Grenville Mutual Insurance Company | A |
| Steve Masnyk | Canadian Association of Managing General Agents | A |
| Marcia Mowatt | TD Insurance | A |
| Susan Penwarden | Aviva Canada Inc. | R |
| Obaid Rahman | Definity Financial Corporation | A |
| Karen Ritchie | Baird MacGregor Insurance Brokers LP | A |
| Sarah Scott | The Wawanesa Mutual Insurance Company | A |
| Elliot Silverstein | CAA Insurance Company | A |
| Colin Simpson | Insurance Brokers Association of Ontario | R |
| Evan Stubbings | Insurance Bureau of Canada | A |
| Pete Weightman | Intact Insurance Specialty Solutions | R |
| Paul Wilson | Travelers Insurance Company of Canada | A |
FSRA members present:
Huston Loke, Erica Heimstra, Beata Morris, Michael Tin, Tim Mifflin, Samreen Hossain, Vishal Batta, Nick Polsoni, John Buenavides, Corey Owen, Kelly Le
Other attendees present:
Agnivesh Mirsha (Ministry of Finance)
Available in French upon request