Options to Address Uninsured Liability Risk
The IESO is seeking feedback from stakeholders on options to address its uninsured liability risk. The IESO was unable to replace its errors and omissions insurance coverage and is proposing two options to address its uninsured risk: bring its liability risk under the market rules into alignment with available insurance and the liability risk of other independent system operators, or recover losses through the market.
Under the Market Rules, the IESO may be liable for negligence, with some limitations. Until recently, the IESO obtained errors and omissions insurance to match this liability risk. Due to factors such as the hardened insurance market in 2020, the IESO was unable to renew or obtain alternate errors and omissions insurance that matches the IESO’s liability risk under the market rules.
The IESO intends to address this uninsured liability risk for negligence through changes to the market rules and is seeking stakeholder feedback.
All comments and enquiries on this engagement can be directed to engagement@ieso.ca.
Related Information
Schedule of Activities
Anticipated timing for this engagement is presented below.| Date | Engagement Activity | Expected Actions |
|---|---|---|
|
February 2021
|
Discuss feedback from stakeholders and next steps including the Technical Panel |
|
|
January 19, 2021 |
Feedback from stakeholders due on two options |
|
|
December 16, 2020 |
This engagement is seeking feedback from stakeholders on two options to address IESO uninsured liability risk. The options would either bring IESO liability risk under the market rules into alignment with available insurance and with other independent system operators or consider a means to recover losses through the market. |
This webinar is being presented during the IESO's December stakeholder engagement sessions, see full agenda for more information. |
|
November 26, 2020 |
Options to Address Uninsured Liability Risk engagement launched |