s 323
In forceLicensed insurer to report on profit margins
Chapter 6Motor accident injuries insurance
Part 6.7MAI premiums
323 Licensed insurer to report on profit margins
(1)
A licensed insurer must tell the MAI commission—
(a)
the profit margin on which each MAI premium charged by the licensed insurer is based; and
(b)
the actuarial basis for working out the profit margin.
(2)
The MAI commission must assess—
(a)
the profit margin; and
(b)
the actuarial basis on which the profit margin is worked out.
Part 6.8 Nominal defendant’s liabilities
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