PART XV RATES AND RATING BUREAUS
Application re risk classification system, rates
410 (1) Every insurer shall apply to the Chief Executive Officer for approval of, (a)  the risk classification system it intends to use in determining the rates for each coverage and category of automobile insurance; and (b)  the rates it intends to use for each coverage and category of automobile insurance.  1996, c. 21, s. 44; 1997, c. 28, s. 125; 2018, c. 8, Sched. 13, s. 22. Exception (1.1) Subsection (1) does not apply with respect to the Personal Vehicles — Private Passenger Automobile category of automobile insurance while subsection 4 (1) of the Automobile Insurance Rate Stabilization Act, 2003 is in force. 2013, c. 2, Sched. 8, s. 26. Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 410 (1.1) of the Act is repealed. (See: 2017, c. 34, Sched. 21, s. 30 (1)) Exception (2) An insurer is not required to apply for approval of a risk classification system that the insurer is required to use under the regulations.  1996, c. 21, s. 44. Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 410 (2) of the Act is amended by striking out “the regulations” at the end and substituting “the Authority rules”. (See: 2017, c. 34, Sched. 21, s. 30 (2)) Note: On a day to be named by proclamation of the Lieutenant Governor, section 410 of the Act is amended by adding the following subsection: (See: 2017, c. 34, Sched. 21, s. 30 (3)) Order requiring application for approval (2.1) The Superintendent may order an insurer to apply to the Superintendent for approval of, (a)  the risk classification system it intends to use, as of the date specified in the order, in determining the rates for each coverage and category of automobile insurance; and (b)  the rates it intends to use, as of the date specified in the order, for each coverage and category of automobile insurance. 2017, c. 34, Sched. 21, s. 30 (3). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 410 (2.1) of the Act is amended by striking out “Superintendent” wherever it appears and substituting in each case “Chief Executive Officer”. (See: 2018, c. 8, Sched. 13, s. 12) Material to be furnished (3) An application for approval of a risk classification system or rates 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.  1996, c. 21, s. 44; 1997, c. 28, s. 125; 2018, c. 8, Sched. 13, s. 22. Additional information (4) The Chief Executive Officer may require an 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.  1996, c. 21, s. 44; 1997, c. 28, s. 125; 2018, c. 8, Sched. 13, s. 22. Note: On a day to be named by proclamation of the Lieutenant Governor, section 410 of the Act is amended by adding the following subsections: (See: 2017, c. 34, Sched. 21, s. 30 (4)) Superintendent’s powers (4.1) After considering an application and any additional information, material or evidence relating to the application, the Superintendent may do one or more of the following: 1.  Approve all or part of the application. 2.  Refuse to approve all or part of the application. 3.  Require the applicant to reduce or otherwise vary one or more of its current or proposed rates. 4.  Require the applicant to vary one or more of the elements of its current or proposed risk classification systems. 2017, c. 34, Sched. 21, s. 30 (4). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 410 (4.1) of the Act is amended by striking out “Superintendent” and substituting “Chief Executive Officer”. (See: 2018, c. 8, Sched. 13, s. 12) Criteria for refusal to approve, etc. (4.2) The Superintendent shall refuse to approve all or part of an application and may require the applicant to vary one or more of the elements of its current or proposed risk classification system or to reduce or vary one or more of its current or proposed rates if, in the Superintendent’s opinion, having considered the criteria set out in the Authority rules, the proposed risk classification system or proposed rate is not just and reasonable in the circumstances. 2017, c. 34, Sched. 21, s. 30 (4). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 410 (4.2) of the Act is amended by striking out “Superintendent” and substituting “Chief Executive Officer”. (See: 2018, c. 8, Sched. 13, s. 12) Decision final (4.3) A decision of the Superintendent is final for all purposes. 2017, c. 34, Sched. 21, s. 30 (4). Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 410 (4.3) of the Act is amended by striking out “Superintendent” and substituting “Chief Executive Officer”. (See: 2018, c. 8, Sched. 13, s. 12) Definition (5) In this section, “insurer” includes the Facility Association.  1996, c. 21, s. 44. Section Amendments with date in force (d/m/y) 1996, c. 21, s. 44 - 01/11/1996; 1997, c. 28, s. 125 - 01/07/1998 2013, c. 2, Sched. 8, s. 26 - 16/08/2013 2017, c. 34, Sched. 21, s. 30 (1-4) - not in force 2018, c. 8, Sched. 13, s. 12 - not in force; CTS 04 SE 18 - 1; 2018, c. 8, Sched. 13, s. 22 - 08/06/2019