Ontario Auto Insurance Three-Year Review

Section 289 of the Insurance Act requires the Superintendent of the Financial Services Commission of Ontario (FSCO) to undertake every three years a review of Part VI of the Insurance Act (Automobile Insurance) and related regulations. In 2013, the government consolidated existing statutory auto insurance reviews and increased the frequency of a major review to every three years to better respond to the rapidly evolving auto insurance landscape in Ontario. FSCO is initiating a review of the auto insurance system to meet this requirement. 

Consumers and stakeholders are invited to provide comments and suggestions on how to ensure a stable, sustainable and competitive auto insurance system, including:

• reducing claim costs
• decreasing regulatory, product and administrative complexity for industry, service providers and consumers  
• promoting greater consumer choice and protection
• increasing transparency in communications between insurers, service providers, policyholders and claimants
• improving the availability of auto insurance for individuals and businesses
• basing treatment of motor vehicle accident injuries on scientific and medical evidence, and
• considering approaches used in other jurisdictions
   

The deadline for submissions is March 31, 2014.