Your company writes auto insurance in Ontario. That province has just passed legislation mandating a flat commission expense of $50 per policy, effective on the date of each company's next rate change. At the present time your average gross premium is 500 per policy, which includes the following percentage loadings. 12% 15 Commissions General expenses Taxes and licenses Profit and contingencies 3 33% If no other change is indicated, what effect would the legislation have on the average gross premium? Assume all other expenses do not apply to the new commission