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Ontario regulator approves electronic proof of auto insurance

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Ontario regulator approves electronic proof of auto insurance

The Financial Services Regulatory Authority of Ontario approved the use of electronic proof of auto insurance, or EPAI, for drivers in the province.

Minister of Finance Rod Phillips said the electronic insurance card will have "sophisticated safeguards" that will prevent them from being edited or altered and will prevent anyone from tracking the policyholders' location or disclose their data without explicit permission, Canadian Underwriter reported.

The electronic insurance card will be issued to policyholders upon request and insurers cannot issue EPAIs without policyholders' consent, according to the regulator's guidance.

There will be a one-year phase-in period that will allow insurers to issue paper versions of the insurance card and the electronic versions as requested. This phase will also allow consumers, regulators, insurers and law enforcement to identify any changes the program may need, according to Phillips.