7 (1) The Chief Executive Officer may order any insurer that is subject to this Act to apply to the Chief Executive Officer 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 for the Personal Vehicles — Private Passenger Automobile category of automobile insurance; and (b) the rates it intends to use, as of the date specified in the order, for each coverage for that category of automobile insurance. 2013, c. 2, Sched. 1, s. 7 (1); 2018, c. 17, Sched. 4, s. 1. (2) Repealed: 2013, c. 2, Sched. 1, s. 7 (2). Application (3) On receipt of an order under subsection (1), an insurer shall make the application  in a form approved by the Chief Executive Officer and shall, on or before the date specified in the order, file the application together with such information, material and evidence as the Chief Executive Officer may require in the order.  2003, c. 9, s. 7 (3); 2018, c. 17, Sched. 4, s. 1. (4) Repealed:  2003, c. 9, s. 14. Additional information (5) The Chief Executive Officer may require an applicant to provide such additional information, material and evidence as the Chief Executive Officer considers necessary in order to make a decision with respect to the application.  2003, c. 9, s. 7 (5); 2018, c. 17, Sched. 4, s. 1. Chief Executive Officer’s powers (6) After considering an application and any additional information, material or evidence relating to the application, the Chief Executive Officer 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. 2003, c. 9, s. 7 (6); 2013, c. 2, Sched. 1, s. 7 (3); 2018, c. 17, Sched. 4, s. 1. Criteria for refusal to approve, etc. (7) The Chief Executive Officer 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 Chief Executive Officer’s opinion, (a) the proposed risk classification system or proposed rate is not just and reasonable in the circumstances; (b) the proposed risk classification system is not reasonably predictive of risk or does not distinguish fairly between risks; (c) the proposed rates would impair the applicant’s solvency; or (d) the proposed rates are excessive in relation to the applicant’s financial circumstances. 2013, c. 2, Sched. 1, s. 7 (4); 2018, c. 17, Sched. 4, s. 1, 2. Written submissions (8) The Chief Executive Officer shall give the insurer an opportunity to make written submissions before making an order refusing to approve all or part of an application or requiring the insurer to vary one or more of the elements of its current or proposed risk classification system or requiring the insurer to reduce or vary one or more if its current or proposed rates. 2013, c. 2, Sched. 1, s. 7 (5); 2018, c. 17, Sched. 4, s. 1. Time for making order (9) The Chief Executive Officer shall make an order in respect of an application under this section not more than 60 days after the later of, (a) the day the application is filed; or (b) the day the additional information, material or evidence is provided, if the Chief Executive Officer has required the applicant to provide additional information, material or evidence under subsection (5).  2003, c. 9, s. 7 (9); 2018, c. 17, Sched. 4, s. 1. Deemed approval (9.1) An application is deemed to have been approved by the Chief Executive Officer upon the expiry of the 60-day period described in subsection (9) unless the Chief Executive Officer advises the applicant orally or otherwise within that 60-day period that the Chief Executive Officer has not approved the application. 2013, c. 2, Sched. 1, s. 7 (6); 2018, c. 17, Sched. 4, s. 1. Effective date of order (10) An order of the Chief Executive Officer under this section takes effect on the date or dates specified in the order.  2003, c. 9, s. 7 (10); 2018, c. 17, Sched. 4, s. 1. Order final (11) An order of the Chief Executive Officer under subsection (9) is final for all purposes.  2003, c. 9, s. 7 (11); 2018, c. 17, Sched. 4, s. 1. Applications by affiliates (12) Section 414 of the Insurance Act applies with necessary modifications to applications under this section.  2003, c. 9, s. 7 (12). Concurrent authority (13) The Chief Executive Officer’s authority to make orders under this section in respect of a matter is not affected by his or her authority to make an order under subsection 7.1 (3) in respect of the same matter. 2013, c. 2, Sched. 1, s. 7 (7); 2018, c. 17, Sched. 4, s. 1, 2. Section Amendments with date in force (d/m/y) 2003, c. 9, s. 14 (1)
- 14/07/2004 2013, c. 2, Sched. 1, s. 7 (1-7) - 16/08/2013 2018, c. 17, Sched. 4, s. 1, 2 - 08/06/2019