FSRA forming advisory committee on auto rating and underwriting

Want to help shape the way auto insurance rates and underwriting are regulated in Ontario?

The Financial Services Regulatory Authority of Ontario (FSRA) put out a call on Mar. 13 for members to serve on a new technical advisory committee (TAC) to address those issues.

FSRA says it’s seeking between 10 and 12 experienced professionals to provide strategic advice and technical expertise. The committee will support the regulator’s efforts to modernize its approach to auto insurance rates and underwriting in the province “through the implementation of its new supervisory model.”

On its website, FSRA says it’s implementing an Auto Rates and Underwriting Regulation Reform Strategy (ARURR) to “ensure every driver is treated fairly, given clear and accessible information, and can find the right coverage at the right price.”

A terms of reference page on FSRA’s website explains the TAC will be required to:

• Share operational expertise to help FSRA to implement its new rating and underwriting supervisory model, “including the new rating and underwriting filing process and accreditation assessments”
• Provide technical input to help develop the regulator’s future guidance related to auto insurance rates and underwriting regulation. This will include the Annual Review Guidance
• Evaluate how potential policy changes related to auto insurance affect consumers, including matters of transparency, fairness, and other emerging issues.

In a press release, the regulator says ideal candidates will be “senior leaders within their organization or profession, bringing deep subject-matter expertise in ratemaking and actuarial science, underwriting, auto insurance products, claims, risk management and governance, business strategy, process automation and AI-assisted decision-making, change management and large-scale implementation, distribution models and channels, consumer complaint resolution, or digital consumer experience.”

FSRA says the TAC should expect to meet quarterly, although additional meetings may be required, and that in-person attendance is preferred. The committee is expected to complete its work by Dec. 31, 2027.

Additionally, FSRA says it will expect members to:

• Review background materials to prepare for meetings
• Participate actively and constructively during meetings
• Provide advice, feedback, and recommendations on matters brought to the committee for consideration
• Complete post-meeting tasks or follow-up activities
• Promote consensus positions within the broader stakeholder community
• Offer feedback to FSRA on the functioning of the committee.

Interested persons can send a resume and cover letter to Matt Palucci, matt.palucci@fsrao.ca, by April 10, 2026.