Ontario Consultation on Regulatory Proposals to Implement Amendments to the Consumer Reporting Act 24- MPBSD017 – November 28, 2024

Our submission reminds the Ontario Government of its commitment to give consumers the option of lowering their insurance rates by sharing credit scores. It also notes opportunities to reduce red tape for insurers when consumers elect to share their credit scores.

24-10 FSRA Proposed Automobile Insurance Rating and Underwriting Supervision Guidance – November 15, 2024

Our submission asks FSRA to allow accredited insurers more flexibility when setting rates to reflects risks, including the use of credit scores.

Ontario Ministry of Finance Proposal 24-MOF017 - Proposed amendments to the Insurance Act and regulations under the Insurance Act and the Compulsory Automobile Insurance Act – October 7, 2024

Our submission supports changes that expand options for use of electronic communications between an insurer and an insured, and clarifying requirements for notices sent by prepaid courier. We also encourage the government to allow insurers to develop their own proof of delivery.

Insurance Council of Manitoba Consultation on Proposed Implementation of Agency/Firm (Corporate) Licensing – September 26, 2024

Our submission approves steps which will result in harmonization of regimes and labour mobility. It also calls for an exclusion to address unintended consequences for exclusive/captive agencies due to the proposed prohibition on co-locating with an insurer.

Proposal 24-MOF014 - Proposed amendments to the Insurance Act, and to Ontario Regulation 34/10 (Statutory Accident Benefits Schedule) – September 9 2024

Our submission raises concerns about the prescriptive approach that differentiates existing customers from new ones in the regulations and framework the government has proposed for implementing increased options for auto insurance consumers.

Alberta Insurance Rate Board: Excess Profit Policy Consultation – June 24, 2024

Our submission calls for over-arching reform, including elimination of the profit benchmark to allow a competitive insurance marketplace encourage innovation and new products for Alberta drivers.

Alberta Insurance Rate Board: Proposed Changes to the Grid Rating System - May 31, 2024

Our submission supports recommendations by the AIRB that would lead to the simplification of Alberta’s Grid Rating System to bring it back to its original intent and narrow the number of drivers to which it applies.

Insurance Council of Manitoba consultation on proposed fee increases – May 6 2024

Our submission encourages the Council to be more transparent about the contributions agent and insurer fees make to ensuring Manitobans receive insurance advice from reliable, qualified agents.

2024-02 FSRA Consultation on Proposed Approach to Strengthening Protection of Vulnerable Consumers

Our submission asks that FSRA consider the benefits of existing guidance on Fair Treatment of Customers while redefining “vulnerable consumers” as individuals needing additional assistance. We also recommend that these customers self-identify, and that regulations avoid requiring more data collection and storage.

Ontario Pre-Budget Consultation, January 2024

As in 2023, our submission recommends giving consumers the option to allow credit scores to be used to calculate rates. It explains the positive impacts of this change to better reflect customers’ individual risk profiles when setting rates.