The Financial Services Regulatory Authority of Ontario (FSRA) has established a new property and casualty (P&C) oversight division that will initially be focused on market conduct in the sector.
The regulator has consistently said it will prioritize its work and deploy supervisory resources towards the risks and issues that have the greatest impact on Ontario consumers. “FSRA uses a risk-based methodology in its market conduct supervision activities,” the regulator stated in its June 2025 Property & Casualty Insurance Market Conduct Supervision Strategic Plan. It first announced its prioritization of P&C insurance supervision back in June 2023.
The targeted go-live date for the new division is February 15, 2026, at which time the P&C Conduct Supervision, Auto Insurance Supervision (rating and underwriting), and Actuarial Services with the regulator will also align under the new division “to support a more integrated approach to P&C oversight,” they state.
“The new division is designed to enhance sector focus, coordination, and accountability, and to further strengthen FSRA’s ability to identify and respond to emerging market risks, while maintaining continuity in regulatory supervision and expectations for industry,” the regulator adds in its announcement about the division’s establishment. “The creation of the P&C division does not change regulatory requirements, supervisory expectations, or FSRA’s enforcement posture. Oversight activities will continue uninterrupted.”
