sec.102Arbiter must decide amount of liability

sec.102 Arbiter must decide amount of liability

This section applies if— under section 34 (3) , 45 (3) , 56 (3) , 78 (3) , 87 (3) or 97 (3) , the Regulator refers a summary report about an amount of liability to the arbiter; or under section 68 (2) , the Regulator refers an appointed actuary’s actuarial report, the self-insurer’s data and a second appointed actuary’s actuarial report, if any, about an amount of liability to the arbiter. The arbiter must— for a referral mentioned in subsection (1) (a) — consider the individual reports included in the summary report; and decide— the central estimate for the liability; and the amount of the liability; or for a referral mentioned in subsection (1) (b) — consider the documents mentioned in subsection (1) (b) ; and decide— if an appointed actuary’s actuarial report and a second appointed actuary’s report is referred—the central estimate for the liability; and the amount of the liability. The amount of the liability decided under subsection (2) (a) (ii) (B) must not be— more than the higher of the amounts of liability stated in the individual reports; or less than the lower of the amounts of liability stated in the individual reports. The arbiter must give a written statement of the arbiter’s decision, and the reasons for the decision, to the Regulator within 21 days after the referral to the arbiter is made. (sec.102-ssec.1) This section applies if— under section 34 (3) , 45 (3) , 56 (3) , 78 (3) , 87 (3) or 97 (3) , the Regulator refers a summary report about an amount of liability to the arbiter; or under section 68 (2) , the Regulator refers an appointed actuary’s actuarial report, the self-insurer’s data and a second appointed actuary’s actuarial report, if any, about an amount of liability to the arbiter. (sec.102-ssec.2) The arbiter must— for a referral mentioned in subsection (1) (a) — consider the individual reports included in the summary report; and decide— the central estimate for the liability; and the amount of the liability; or for a referral mentioned in subsection (1) (b) — consider the documents mentioned in subsection (1) (b) ; and decide— if an appointed actuary’s actuarial report and a second appointed actuary’s report is referred—the central estimate for the liability; and the amount of the liability. (sec.102-ssec.3) The amount of the liability decided under subsection (2) (a) (ii) (B) must not be— more than the higher of the amounts of liability stated in the individual reports; or less than the lower of the amounts of liability stated in the individual reports. (sec.102-ssec.4) The arbiter must give a written statement of the arbiter’s decision, and the reasons for the decision, to the Regulator within 21 days after the referral to the arbiter is made.

• (a) under section 34 (3) , 45 (3) , 56 (3) , 78 (3) , 87 (3) or 97 (3) , the Regulator refers a summary report about an amount of liability to the arbiter; or