FSRA seeks applicants for technical advisory committee

The Financial Services Regulatory Authority of Ontario (FSRA) has announced that it is establishing a new technical advisory committee, which will help identify problems with auto insurance products being sold in Ontario.

The committee will also provide solutions to auto insurance issues that would benefit consumers, a release said.

FSRA also revealed that it is currently seeking applicants to the committee; it is looking for individuals with “executive-level or extensive experience in the auto insurance field.” Specifically, it is on the lookout for those with experience in:

• managing and responding to injury claims;
• providing insurance advice to claimants;
• providing health service or goods treating or assessing injured consumers;
• being a legal representative for injured claimants;
• designing or developing auto insurance products;
• pricing and predicting claim costs; or
• sales or insurance advisors providing direct advice to consumers.

Applicants will be screened by the FSRA for criteria such as their current skillset; how they can contribute to the committee’s mandate to serve consumers; how they will be supported by their organization or profession in meeting the committee mandate; and what they consider to be the top concerns of auto insurance consumers.

The regulator specified that the advisory committee will have between 10 and 14 members. Applications to the committee via email are open until Friday, April 29, 2022.