simplified filing criteria

curly244curly244
edited October 2020 in FSCO.PPA

Hi!

Two questions:

1

I need help understanding where the information for the criteria allowing the use of a simplified filing is coming from. The study information states:

    descriptive rules:
        new discounts are ok (except UBIP) IF identical to another insurer
        can't change rating algorithm EXCEPT for new discounts

    numerical rules:
        changes to all coverages combined ≤ 0%
        changes to territorial base rate & relativities between (-15%, 5%)
        all individual changes < 15%

I have read both the FSCO.PPA and FSCO Reg664 multiple times and I cannot find anything that relates to any of these points except that the rate change must be <=0%.

Can you please point me to the right reading?

2

where does it say in the readings that the territorial differentials cannot change by more than the indication?

I'm sooo confused!!!!!!

Thanks!

Comments

  • grahamgraham
    edited October 2020

    It's a bit sneaky. You have to click on a link in the FSCO document to go to an external website and then click on yet another link to get the actual simplified guidelines. The direct link is below.

    http://www.fsco.gov.on.ca/en/auto/filing-guidelines/Pages/ppa-simplified.aspx

    If you're studying the FSCO.PPA reading from a printed copy, you might not notice the links within the text.

  • curly244curly244

    Thank you!

    Do you think the intent is to study the information in the links as well?

  • grahamgraham

    I wouldn't have thought so, but they have asked questions in the past where you had to know those things. :-(

  • curly244curly244

    ok I'll add it to the list just in case. Thanks for your help!

  • adipelinoadipelino

    Where was the third point (all individual changes ≤ 15%) from? I see this in the link provided:
    "Any other changes to existing differentials or risk classification elements must be between -15.0% and +5.0% with no off-balancing. Each change to a differential is to be measured with reference to the current differential after re-basing the average proposed differentials to the same average current differentials for each coverage."

    So it's the same criteria as the change in territorial factors?

  • Staff-T1Staff-T1

    Yeah you are right. @graham thoughts?

  • grahamgraham

    Unless I'm mistaken, the criteria for simplified filings has been removed from the syllabus:

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