A.I.35 (2000-2001)
IN
THE MATTER OF THE AUTOMOBILE
INSURANCE
ACT, CHAPTER A - 22,
R.
S. N. 1990.
AND
IN
THE MATTER OF AN APPLICATION BY
Metro General Insurance Corporation Ltd.
TO
IMPLEMENT REVISED RATES FOR ITS
COMMERCIAL
CLASS OF BUSINESS.
WHEREAS by application received March 6, 2001, Metro General Insurance Corporation Ltd. applied to the Board for approval to implement a revised rating program for its Commercial class of business, and
WHEREAS, the Board, after due examination and analysis of the proposed
rating program, finds that it conforms with the Benchmarks and should be
approved as filed.
IS THEREFORE ORDERED THAT:
1. A. I. 38 (1998-99) be and it is hereby rescinded.
2. Approval be and it is hereby granted Metro General Insurance Corporation Ltd. for the implementation of a revised rating program for its Commercial class of business with base rates as follows:
|
|
All Territories |
|
Third Party Liability |
$ 531.00 |
|
Collision |
179.00 |
|
Comprehensive |
115.00 |
|
Specified Perils |
46.00 |
|
Accident Benefits |
16.00 |
|
Uninsured Motorist |
5.00 |
and differentials as submitted with this filing.
3.
The
rates approved herein may not be altered or varied by the application of any
surcharge or discount which has not been filed with and approved by the Board.
4. These rates shall be effective from June 1, 2001 for new business and renewals.
Dated at St. John's, Newfoundland, this 28th day of March, 2001.
Robert Noseworthy
Chairperson &
Chief Executive Officer
Darlene Whalen,
P.Eng.
Vice-Chairperson
G. Cheryl Blundon,
Board
Secretary