Improving protection for property and casualty insurance consumers

Ontario’s financial services regulator, FSRA, today published its first supervision plan to help ensure fair treatment for people who have, or want to buy, insurance to protect against property damage and loss or liabilities.

The plan gives details of FSRA’s upcoming review of property and casualty (P&C) insurers and the outsourcing arrangements they enter into with managing general agents.

We want to ensure that P&C insurance companies and their business partners are performing in a manner that complies with our rules, guidance and all relevant legislation. FSRA is seeking to understand what functions insurers are outsourcing to P&C managing general agencies and the practices involved in the arrangements.

The review will focus on four key areas: 

  1. Insurer distribution through managing general agencies, including the size and scope of the managing general agency market in the Ontario P&C insurance sector.  
  2. Due diligence undertaken by insurers in the selection of managing general agencies for outsourcing arrangements. 
  3. Insurer oversight practices for the functions they outsource to managing general agencies.  
  4. Managing general agency business practices that may create a higher risk for consumer harm. 

The plan also shares FSRA’s observations on the potential risks of consumer harm as a result of outsourcing arrangements with managing general agencies.    

FSRA expects insurers to review the supervision plan to ensure they are complying with all regulatory expectations.  

The outcomes of FSRA’s proactive sector review will be shared publicly to promote industry compliance and will inform the development of FSRA’s Market Conduct Supervision Framework for Non-Auto Property and Casualty Insurance. 

Learn more: 

FSRA continues to work on behalf of all stakeholders, including consumers, to ensure financial safety, fairness, and choice for everyone. Learn more at