ID
2022-008
ID
2022-008
Type
Supervision
Sector
Property and Casualty and General Insurance
Status
Public comment closed
Date
Comment Due Date
Thank you for providing your feedback on FSRA’s proposed Insurance Prudential Supervisory Framework Guidance.
We appreciate the comments and questions received to date. Your feedback will help to inform our final guidance.
The request for submissions is now closed.
The final guidance, now titled Risk Based Supervisory Framework for Ontario Incorporated Insurance Companies and Reciprocals (RBSF-I), was released on February 28, 2023.
Summary
FSRA is introducing Insurance Prudential Supervisory Framework Guidance (“IPSF Guidance”) to set out FSRA’s processes for assessing Ontario’s provincially incorporated insurers to better protect policyholders and consumers.
This framework will allow FSRA to assess provincially incorporated insurance companies’ overall risk profile, identify areas of concern, and determine the level of supervision and intervention needed.
FSRA consulted with the the Technical Advisory Committee for Insurance Prudential Regulation and Supervision and thanks the Committee for their input.
FSRA is publishing the proposed Guidance for comment on its website. FSRA invites feedback until September 6, 2022.
Participate
The public consultation period is open from July 5, 2022 – September 6, 2022.
Review the proposed Guidance and provide your comments by selecting submit a comment or ask a question.
Useful Links
- Consultation Summary Report
- Risk Based Supervisory Framework for Ontario-incorporated Insurance Companies and Reciprocals
- Insurance Prudential Supervisory Framework Guidance – Consultation Draft
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