The Financial Services Regulatory Authority of Ontario has published a strategic plan for market conduct supervision in property and casualty (P&C) insurance, setting out a risk-based approach intended to strengthen consumer protection and maintain public confidence in the sector. The plan is positioned as a framework to help prioritize supervisory activity while minimizing unnecessary regulatory burden and promoting sound market practices. Under the strategy, FSRA will identify and assess market conduct risks using existing information and data, then address conduct issues through tools such as thematic reviews, inquiries, examinations and surveys. The plan is based on existing regulatory requirements and expectations and aligns with the market conduct supervision framework described in FSRA’s business plan; FSRA also plans to continue publishing its plans and findings and to engage with the industry on supervisory priority areas as implementation proceeds in phases.
Financial Services Regulatory Authority of Ontario 2025-06-16
Financial Services Regulatory Authority of Ontario releases phased strategic plan for P&C insurance market conduct supervision
The Financial Services Regulatory Authority of Ontario has released a strategic plan for market conduct supervision in property and casualty insurance, emphasizing a risk-based approach to enhance consumer protection and public confidence. The plan aims to prioritize supervisory activities, reduce regulatory burdens, and promote sound market practices. FSRA will use tools like thematic reviews and examinations to address conduct issues and engage with the industry as implementation progresses.