Actuarial Notes

CAS Exam 6C Spring 2019, Question 2

Study guide: Exam 6C

Briefly explain whether the following situations are in line with the relevant provincial automobile insurance regulations.

Part a (0.25 points)

A private insurer in British Columbia must file its collision and comprehensive coverages rate change and wait for the approval of the insurance regulator before putting the rates into use.

Part b (0.25 points)

An insurer in Nova Scotia must file its rate changes to the Nova Scotia Utility and Review Board within a specified period of time after putting the rates into use.

Part c (0.25 points)

A private insurer in Quebec may use new rates for property damage coverages before the company's submission of the rate filing with the insurance regulator.

Part d (0.25 points)

The Government of Alberta acts as a monopoly providing automobile insurance for transportation network companies.

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