Sector: Life & Health Insurance, P&C Insurance, Auto Insurance
FSRA is continuing its work to strengthen protection for insurance consumers in Ontario.
The Unfair or Deceptive Acts or Practices (UDAP) Rule is approved and will become effective after required legislative amendments are proclaimed into force. The rule strengthens the supervision of insurance industry conduct and enhances consumer protection by clearly defining outcomes that are unfair or otherwise harmful to consumers.
The following is a timeline of the UDAP rule process, and the related documents published as per legislative requirements under the FSRA Act.