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Automobile Insurance Prohibited Underwriting
Under the authority of paragraph 107(e.1), of the Insurance Companies Act, the Lieutenant-Governor in Council makes the following regulations.
Robert C. Thompson
1. The Automobile Insurance Prohibited Underwriting Regulations are amended by adding immediately after subsection 4(2) the following:
(2.1) Notwithstanding paragraph (1)(e.1), where, after August 1, 2005 a rate charged by an insurer to a person insured under a contract would, as a result of the coming into force of paragraph (1)(e.1), be higher than the rate the person would otherwise have been required to pay, the insurer is not prohibited from charging the person the lower rate.
(2.2) Where an insurer receives an approval under section 51 of the Automobile Insurance Act to increase a rate it charges to an insured referred to in subsection (2.1), the insurer may phase in the amount of the increase over the period the insurer may determine.
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