FSRA establishing new Technical Advisory Committee for Transforming Auto Insurance Rate Regulation
TORONTO, December 18, 2019 – The Financial Services Regulatory Authority (FSRA) is creating a new Technical Advisory Committee for Transforming Auto Insurance Rate Regulation (the Advisory Committee). The Advisory Committee will provide expert insight to FSRA as we seek to transform auto insurance rate regulation with a focus on empowering and protecting consumers in Ontario’s auto insurance system.
The Advisory Committee will meet on a quarterly basis, or more frequently if required, and is expected to complete its mandate by the end of its next fiscal year, March 31, 2021. Membership applications must be submitted on or before Wednesday, January 15, 2020. For more information on the nomination process and the criteria for each committee, please visit: Auto Technical Advisory Committee.
FSRA is seeking members with direct experience as decision-makers in the current auto insurance rate regulation process, as well as rate regulation processes in other jurisdictions, with varying points of view. Members will have the opportunity to influence FSRA’s approaches, helping the regulator to improve its regulatory effectiveness and reduce regulatory burden.
Technical Advisory Committees will form part of FSRA’s stakeholder engagement process going forward, helping to improve processes and approaches to regulation and reduce regulatory burden.
Effective June 8, 2019, the Financial Services Regulatory Authority of Ontario (FSRA) has assumed the regulatory duties of the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario. Learn more about FSRA and our approach to achieving safety, fairness and choice in non-securities financial services at www.fsrao.ca.
For Media Inquiries:
Senior Manager, Corporate Communications
Financial Services Regulatory Authority
Email: [email protected]