Automobile Insurance Rates Control Act, 2003 Smitherman, George — Bill 129 (37th Parliament, 4th Session)

Bill 129, 37-4

Ontario — Bills

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Bill 129, Automobile Insurance Rates Control Act, 2003

Smitherman, George

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[37] Bill 129 Original (PDF)

Bill 129 2003

An Act to control

automobile insurance rates

Her Majesty, by and with the advice and consent of the Legislative

Assembly of the Province of Ontario, enacts as follows:

Definitions

1. In this Act,

"automobile insurance" has the same meaning as in

section 1 of the

Insurance Act ; ("assurance-automobile")

"capped rate" means, in respect of a coverage under a contract of

automobile insurance, the lesser of,

(

a) the premium that would have been charged for the coverage for

comparable risks for a term commencing on June 19, 2003 had the premium been

calculated using the rules, procedures and factors used by the insurer on

that date,

(

b) the premium that would have been charged for the coverage for

comparable risks using the Facility Association rate in effect at the

beginning of the term of the contract; ("taux plafonné")

"Facility Association rate" means the premium for a coverage determined

under the Plan of Operation of the Facility Association under the

Compulsory Automobile Insurance Act ; ("taux de l'Association des

assureurs")

"insurer" means an insurer licensed under the Insurance Act and

carrying on the business of automobile insurance, but does not include an

insurer whose licence is limited to contracts of reinsurance.

("assureur")

Rates capped

(1) No insurer shall charge a

premium for automobile insurance that exceeds the capped rate.

Same

(2) The Facility Association shall not increase the Facility

Association rate in respect of any coverage.

Offence

3. Every person who contravenes or fails to

comply with this Act is guilty of an offence and on conviction is liable to a

fine of $25,000.

Repeal

4. This Act is repealed on the earlier of,

(

a) June 15, 2004; or

(

b) a day to be named by proclamation of the Lieutenant Governor.

Commencement

5. This Act shall be deemed to have come into force on

June 19, 2003.

Short title

6. The

short title of this Act is the Automobile

Insurance Rates Control Act, 2003 .

EXPLANATORY NOTE

The Bill caps automobile insurance

rates as of June 19, 2003.

Date Bill stage Activity Committee

June 26, 2003

First Reading

Carried on division

Debates and Progress

First Reading

June

26, 2003

Carried on division

Second Reading

Committee

Third Reading

Royal Assent :

Coming into force :

5. This Act shall be deemed to have come into force on June 19, 2003.

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Document details

Collection	Ontario — Bills
Citation	Bill 129, 37-4
Type	bill
Volume / chapter	p37 s4 bill 129 html
Language	en
Format	html
Source	PROVINCIAL
Identifier	0d6199904e72c208d57e33ecd04fa4c61eb2a5d1

Source file is stored in the law ingest library (html).