Ontario's P&C Insurers Face New Oversight Framework Under FSRA's 2025 Plan

The Financial Services Regulatory Authority of Ontario ("FSRA") released the Property & Casualty Insurance Market Conduct Supervision Strategic Plan ("SSP") in June 2025, introducing a more structured and proactive approach to supervising entity-specific and sector-wide conduct in Ontario's property and casualty ("P&C") insurance market.

The purpose of the SSP is to identify, assess, and address market conduct risks to which Ontario consumers are exposed and which materially impact consumers throughout the P&C sector. Its scope applies broadly across the market, addressing both entity-specific risks, and those posed by the sector at large. The new plan will affect all parties within the market, including P&C insurers, independent adjusters, insurance corporate agencies, insurance agents, and corporate adjusting companies (the "Regulated Entities").