24Authority guidelines for the determination of premiums

#### 24 Authority guidelines for the determination of premiums 24 Authority guidelines for the determination of premiums (cf s 14A MAA) > > (1) The Authority may issue to licensed insurers guidelines for the determination of insurance premiums for third-party policies (Motor Accidents Premiums Determination Guidelines). > > > (2) Motor Accidents Premiums Determination Guidelines may (without limiting the generality of subsection (1))— > > > > > (a) specify the manner in which premiums are to be determined and the factors to be taken into account in determining premiums, and > > > > > (b) require licensed insurers to specify how they have determined premiums, and > > > > > (c) specify the nature of the additional information and reports that the Authority may require licensed insurers to furnish with the premiums they file or to justify premiums they have filed (including with respect to estimated investment earnings, the verification of assumptions, estimated profit, capital allocation to third-party insurance business and other relevant matters). > > > (3) The Authority may amend, revoke or replace Motor Accidents Premiums Determination Guidelines. > > > (4) Motor Accidents Premiums Determination Guidelines may only be issued, amended, revoked or replaced with the approval of the Board of the Authority. > > > (5) Motor Accidents Premiums Determination Guidelines may adopt the provisions of other publications, whether with or without modification or addition and whether in force at a particular time or from time to time. > > > (6) It is a condition of a licence granted under Part 7.1 that the licensed insurer must comply with Motor Accidents Premiums Determination Guidelines. > > **s 24:** Am 2012 No 54, Sch 3.1 \[5\]; 2015 No 19, Sch 7 \[5\]–\[7\].