FSRA implements temporary measures to support people impacted by Ontario’s recent severe weather event
These measures will allow claims adjusters to help process insurance claims more quickly
The Financial Services Regulatory Authority of Ontario (FSRA) is implementing temporary measures to help insurers in Ontario process the high volume of insurance claims being submitted in the wake of the severe weather event that impacted parts of Ontario on May 21, 2022.
According to Environment Canada, the storm developed near Sarnia late in the morning and reached Ottawa by the afternoon. Western University’s Northern Tornadoes Project Team confirmed an EF2 tornado touched down in Uxbridge and an EF2 downburst impacted Southern Ottawa with wind speeds around 190 kilometres per hour.
In light of this situation, to help ensure that consumers have their claims adjusted and processed in a timely manner, FSRA is implementing temporary measures to allow Ontario insurers to use the services of employees of affiliated insurers, and to allow licensed adjusting companies to use claims adjusters with licences outside of Ontario, for the purpose of adjusting claims of Ontario consumers caused by the May 21, 2022 severe weather event. These measures will be in effect until September 30, 2022. Insurers and adjusting companies who wish to utilize these temporary measures must contact FSRA to confirm the requirements of the temporary measures before proceeding.
FSRA continues to work on behalf of stakeholders, including consumers and pension plan members, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.
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Financial Services Regulatory Authority
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