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Financial Services Regulatory Authority

News InsuranceLegislation / Regulation

What’s really behind Ontario auto rate increases

February 11, 2020 by Greg Meckbach

Auto rates continue to climb in Ontario but the increase in frequency and severity of claims plays a big role, Insurance Bureau of Canada suggests. None of the 21 Ontario auto insurers who filed for rate changes during the last

News InsuranceLegislation / Regulation

Ontario government promises auto rate review

November 18, 2018 by Greg Meckbach

The Ontario government announced Thursday it plans to “review how auto insurance rates are regulated” and confirmed the government will still run the Motor Vehicle Accident Claims Fund. A review of rate regulation will be done “jointly with the Financial

News InsuranceLegislation / RegulationMergers and Aqcuisitions

Ontario Chamber of Commerce endorses major changes to auto insurance rate regulation

May 9, 2017 by Canadian Underwriter

The Ontario Chamber of Commerce (OCC) is calling on the provincial government to put an end to its existing auto rate filing system, a system the chamber describes as “one of the most costly, onerous, and restrictive in North America.”

News AssociationsInsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Rule-making authority essential for Ontario’s new FSRA: Cooke

January 20, 2017 by Angela Stelmakowich

Equipping Ontario’s new Financial Services Regulatory Authority (FSRA) with rule-making authority is critically important to ensuring its effectiveness as an independent, flexible and consumer-focused regulator of financial services and pensions, argues George Cooke, chair of the Board of Directors of

News AssociationsInsuranceLegislation / RegulationMergers and AqcuisitionsTechnology

Wider mandate for Ontario’s auto insurance regulator would be welcomed

January 19, 2017 by Angela Stelmakowich

A wide mandate for the body regulating Ontario’s auto insurance sector – one that promotes competition, innovation and responsiveness – would be welcomed, Karin Ots, senior vice president of regulatory and government relations for Aviva Canada, suggested Thursday during a

News Climate ChangeInsuranceLegislation / RegulationMarkets / Coverages

Sustainability in insurance gaining steam: KPMG speaker

December 9, 2016 Jason Contant, Online Editor

Although the issue of sustainability in insurance is a relatively new concept in Canada, it is one that is gaining ground throughout the world, a speaker said on Wednesday at KPMG’s 25th Annual Insurance Conference. Houston Cheng, consulting actuary and

News InsuranceLegislation / RegulationMarkets / CoveragesProfessional Development

Ontario launches consultations to cut red tape in financial services sector

December 1, 2016 by Canadian Underwriter

The province of Ontario is launching consultations until the end of January 2017, asking businesses and the public to help identify and improve regulations that are “unclear, outdated, redundant or unnecessarily costly” for the financial services sector. Feedback can be

News Climate ChangeInsuranceLegislation / RegulationMarkets / CoveragesProfessional Development

IBC applauds Ontario government’s decision to move forward with creation of new financial services regulator

November 15, 2016 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is applauding the Ontario government’s decision to move forward with the creation of a new financial services regulator. On Monday, the government of Ontario announced in its 2016 Ontario Economic Outlook and Fiscal Review

News InsuranceLegislation / RegulationMarkets / Coverages

Ontario to introduce legislation to establish new Financial Services Regulatory Authority

November 14, 2016 by Canadian Underwriter

The Ontario government has announced that it will introduce legislation to establish the initial parameters for the Financial Services Regulatory Authority (FSRA), “a new independent and flexible regulator of financial services and pensions that, once established, would be more consumer-focused

News AssociationsInsuranceLegislation / RegulationMarkets / Coverages

New Ontario financial services regulator should have anti-fraud authority: Panel

June 20, 2016 by Canadian Underwriter

The Ontario government should establish a new organization that would perform the functions currently performed by the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation of Ontario (DICO) but also have a “specific fraud-deterrence mandate,” an expert