PART XV RATES AND RATING BUREAUS
Risk classification and rate determination regulations
413.1 (1) No insurer shall, as a result of the application of a regulation made under paragraph 36 or 36.1 of subsection 121 (1), increase or decrease the rate for a class of risks in respect of a coverage or category of automobile insurance by more than the maximum monetary amount or percentage prescribed under paragraph 36.2 of subsection 121 (1).  1993, c. 10, s. 41. Application for phase-in of regulations (2) If a regulation made under paragraph 36 or 36.1 of subsection 121 (1) would require an insurer to increase or decrease the rate for a class of risks in respect of a coverage or category of automobile insurance by more than the maximum monetary amount or percentage prescribed under paragraph 36.2 of subsection 121 (1), the insurer shall apply to the Chief Executive Officer for approval of a plan that will phase in the increase or decrease over a period specified in the application by exempting the insurer, in whole or in part, from the regulations made under paragraphs 36 to 36.2 of subsection 121 (1) for the specified period.  1993, c. 10, s. 41; 1997, c. 28, s. 129 (1); 2018, c. 8, Sched. 13, s. 22. Material to be furnished (3) The application shall be in a form approved by the Chief Executive Officer and shall be filed together with such information, material and evidence as the Chief Executive Officer may specify.  1993, c. 10, s. 41; 1997, c. 28, s. 129 (1); 2018, c. 8, Sched. 13, s. 22. Additional information (4) The Chief Executive Officer may require the applicant to provide such information, material and evidence as the Chief Executive Officer considers necessary in addition to the information, material and evidence required to be provided in or with the application.  1993, c. 10, s. 41; 1997, c. 28, s. 129 (1); 2018, c. 8, Sched. 13, s. 22. Approval (5) The application may be approved by the Chief Executive Officer only if, in the opinion of the Chief Executive Officer, (a)  the plan will permit the regulations under paragraphs 36 and 36.1 of subsection 121 (1) to apply to the applicant without any exemption at the end of the period specified in the application; (b)  the period of time during which an exemption will apply to the applicant is reasonable; (c)  the plan will cause a minimum of disruption in the automobile insurance market; (d)  the plan will not impair the solvency of the applicant; and (e)  the plan is in the public interest.  1993, c. 10, s. 41; 1997, c. 28, s. 129 (1); 2018, c. 8, Sched. 13, s. 22. Variation (6) The Chief Executive Officer may, with the consent of the applicant or after receiving written submissions, approve an application under subsection (5) subject to the variations and subject to the terms and conditions that the Chief Executive Officer considers appropriate. 1997, c. 28, s. 129 (2); 2018, c. 8, Sched. 13, s. 22. Reconsideration (7) The Chief Executive Officer may notify the insurer at any time that he or she intends to make an order with respect to a plan approved under subsection (5) if the Chief Executive Officer is of the opinion that any of the criteria specified in clauses (5) (a) to (e) may not be satisfied. 1997, c. 28, s. 129 (2); 2018, c. 8, Sched. 13, s. 22. Request for hearing (7.1) The insurer may, within 15 days after receiving the notice in subsection (7), request in writing that the Tribunal hold a hearing before the Chief Executive Officer makes the order described in the notice. 1997, c. 28, s. 129 (2); 2018, c. 8, Sched. 13, s. 22. Hearing (7.2) If the insurer requests a hearing within the time period allowed, the Tribunal shall hold a hearing. 1997, c. 28, s. 129 (2). No request for hearing (7.3) If the insurer does not request a hearing within the time period allowed, the Chief Executive Officer may make the order described in the notice. 1997, c. 28, s. 129 (2); 2018, c. 8, Sched. 13, s. 22. Revocation or variation of approved plan (8) Following a hearing under subsection (7.2) or section 412, the Tribunal may revoke the approval of a plan approved under subsection (5) or make the variations to the plan that the Tribunal considers appropriate.  1997, c. 28, s. 129 (2). Definition (9) In this section, “insurer” includes the Facility Association.  1993, c. 10, s. 41. Note: On a day to be named by proclamation of the Lieutenant Governor, section 413.1 of the Act is repealed. (See: 2017, c. 34, Sched. 21, s. 32) Section Amendments with date in force (d/m/y) 1993, c. 10, s. 41 - 01/01/1994; 1997, c. 28, s. 129 (1, 2) - 01/07/1998 2017, c. 34, Sched. 21, s. 32 - not in force 2018, c. 8, Sched. 13, s. 22 - 08/06/2019 Affiliated automobile insurers