Energy, auto insurance consultations open
Ontario online feedback deadlines November 15, December 13
Two Ontario agencies are currently planning for the future and asking for input and feedback from stakeholders on the consultations underway. “Ontario’s energy policy will determine the success of our province, today and for the next generation,” Minister Stephen Lecce notes in the message preceding the plan released on October 22nd.
Ontario’s Integrated Energy Resource Plan Consultation
Read the full consultation description here.
On October 22nd, Ontario’s Minister of Energy and Electrification announced the government’s energy policy vision paper: Ontario’s Affordable Energy Future: The Pressing Case for More Power. It is seeking submissions and feedback on this vision paper, with a deadline of December 13, 2024.
The vision paper provides a high-level roadmap of government priorities that will shape the eventual Integrated Energy Resource Plan (IERP), scheduled for release early in 2025. The IERP will provide specific details and commitments on government actions aimed at significantly expanding Ontario’s energy capabilities.
As summarized by the Sussex Strategy Group, “The Government’s long-term vision for the energy sector is predicated on the following:
-Massive investment into the next generation of nuclear power
-Maintaining diversity of electricity generation resources
-Commitment to natural gas in the bulk and local supply mix
-Significant transmission development
-Distribution grid investment and modernization
-Faster customer connections via regulatory evolution
-Opposition to any carbon tax
-Development of an export market via surplus power and interconnections
The Ministry of Energy and Electrification is seeking input from stakeholders on its vision. The Integrated Energy Resource Plan Consultation (ERO Posting 019-9285) outlines 20 questions (found at Appendix “A”). The consultation deadline is December 13, 2024.
*****
Consultation on proposed automobile insurance rating and underwriting supervision guidance
“FRSA is now consulting on new guidance to ensure that Ontario drivers are paying the right price for the right auto insurance coverage. This guidance will help support FSRA in being dynamic, principles-based and outcomes focused in the auto insurance sector,” notes the website for the Financial Services Regulatory Agency.
Read the full consultation description here.
FSRA is consulting on the first three chapters of proposed Guidance, which includes:
- Fair Consumer Outcomes: This chapter establishes clear principles and defines fair consumer outcomes. Insurers will be accountable for setting fair rates that are accurate and taking steps to mitigate the risk of unfair discrimination and bias. Additionally, consumers will have access to clear, transparent information about how these rates are determined.
- Automobile Insurance Rating and Underwriting Operations, Controls and Governance: This chapter describes FSRA’s expectations on high standards for governance and operational practices for rating and underwriting. FSRA will evaluate these practices in terms of their alignment with fair consumer outcomes.
- Accreditation, Proactive Supervision and Assessment Approach Guidance: This chapter describes FSRA’s process for evaluating insurers against the practices set out in Chapter 2. Insurers that demonstrate sound practices in these areas may be accredited and have access to greater flexibility around certain filing requirements.
The consultation period for the first three chapters of the proposed guidance is now open and will close on November 15, 2024. FSRA invites stakeholders to review the proposed guidance and submit their feedback. FSRA will publicly consult on the fourth, and final, chapter of this guidance in 2025, which outlines our new filing approach. Learn more here:
