Difference between revisions of "FSCO.664"
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[https://www.battleactsmain.ca/vanillaforum/categories/fsco-664<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>] | [https://www.battleactsmain.ca/vanillaforum/categories/fsco-664<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>] | ||
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{| class='wikitable' style='background-color: navajowhite; | {| class='wikitable' style='background-color: navajowhite; | ||
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| − | || '''BA Quick-Summary''': <span style="color: green;>''' | + | || '''BA Quick-Summary''': <span style="color: green;>'''Ontario Regulation 664'''</span> |
* The link to the FSCO web page is ''[https://www.ontario.ca/laws/regulation/900664#BK0 R.R.O. 1990, Reg. 664: AUTOMOBILE INSURANCE]''. I've scanned it several times to see if I could gain insight for the CAS including it on the syllabus. If you download it to a Word doc you'll see that it's roughly 13 pages and '''8,000 words'''! That's not terribly long but it reads like ''[[ICA.Ch47]]'' in that it's just a bunch of bullet points. | * The link to the FSCO web page is ''[https://www.ontario.ca/laws/regulation/900664#BK0 R.R.O. 1990, Reg. 664: AUTOMOBILE INSURANCE]''. I've scanned it several times to see if I could gain insight for the CAS including it on the syllabus. If you download it to a Word doc you'll see that it's roughly 13 pages and '''8,000 words'''! That's not terribly long but it reads like ''[[ICA.Ch47]]'' in that it's just a bunch of bullet points. | ||
* I looked over the table of contents to see if anything jumped out that might be important or relate to topics from another paper on the syllabus. Nothing did. Then I scanned the actual text and saw that it provides incredibly specific information on Ontario auto insurance, things like monthly payment plans and acceptable interest rates. It doesn't strike me as reasonable to expect you to memorize things like that. | * I looked over the table of contents to see if anything jumped out that might be important or relate to topics from another paper on the syllabus. Nothing did. Then I scanned the actual text and saw that it provides incredibly specific information on Ontario auto insurance, things like monthly payment plans and acceptable interest rates. It doesn't strike me as reasonable to expect you to memorize things like that. | ||
| + | ** '''Insurers in Ontario are prohibited''' from using certain factors in their risk classification systems for automobile insurance — these include '''credit history, income level, home ownership, and minor at-fault accidents (under specific thresholds)'''. These restrictions promote fairness and reduce socioeconomic bias in rate-setting. | ||
* My recommendation is to '''SKIP''' this reading. Either that or spend a few minutes scanning it just so you know what's there. There are no big concepts and it's way too much to memorize. The only possible reason for keeping it on the syllabus is to make you aware of the existence of such documents online. That's all I could come up with. | * My recommendation is to '''SKIP''' this reading. Either that or spend a few minutes scanning it just so you know what's there. There are no big concepts and it's way too much to memorize. The only possible reason for keeping it on the syllabus is to make you aware of the existence of such documents online. That's all I could come up with. | ||
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Latest revision as of 00:45, 9 June 2025
Reading: “Regulation 664 of the Revised Regulations of Ontario 1990 Automobile Insurance made under the Ontario Insurance Act,” amended version as of 4th July 2016, Sections 1-5 and 16.
Authour: Her Majesty the Queen in Right of Ontario
BA Quick-Summary: Ontario Regulation 664
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| Submit ideas in the forum: If anyone has any further ideas about why this reading is important or what you think is reasonable to know from it, please post it in the forum. We can have a discussion there and I will link to it from this wiki article. |
Having said all this, there was 1 exam question from this reading:
E (2015.Fall #1) - part (e)
I've grouped it with the questions from FSCO.PPA. It asked a very detailed question about monthly payment plans. The answer is in section (3.2) and section (5.2). (Note that the answer in the examiner's report is outdated as of June 1, 2016. See also this forum discussion.)
