Overview

• Investors for Paris Compliance formally submitted its complaint to the Financial Services Regulatory Authority of Ontario on July 3, calling for greater oversight of home insurance rates
• The group highlights that Ontario homeowners faced an 84% increase in premiums between 2014 and 2024, outpacing a 28% rise in consumer inflation
• Complaint asserts that climate-driven extreme weather has driven up claim costs and pushed premiums toward unaffordable levels
• It criticizes the FSRAO for providing transparent statistics on auto insurance while keeping home insurance rate data largely hidden
• Investors for Paris Compliance also urges an investigation into insurers’ investments in fossil fuel companies and their reliance on government-backed reinsurance for high-risk properties