A.I. 3 (2001-2002)
IN THE MATTER OF THE AUTOMOBILE
INSURANCE ACT, CHAPTER A - 22,
R.S.N. 1990
AND
IN THE MATTER OF AN APPLICATION BY
Allianz Insurance Company of Canada
TO IMPLEMENT REVISED RATES FOR
ITS PRIVATE PASSENGER
AND COMMERCIAL CLASSES OF BUSINESS
WHEREAS,
by application received March 22, 2001, Allianz Insurance Company of Canada
applied to the Board for approval to implement revised rating programs for its
Private Passenger and Commercial classes of business, and
WHEREAS,
the Board, after due examination and analysis of the proposed rating programs,
finds that they conform with the Benchmarks and should be approved as filed.
IT
IS THEREFORE ORDERED THAT:
1. Order
No. A.I. 35 (1998-99) be and it is hereby rescinded.
2.
Approval be and it is hereby granted
Allianz Insurance Company of Canada for
the implementation of revised rating programs for its Private Passenger and
Commercial classes of business with base rates as follows:
|
|
Private Passenger Commercial |
|||
Territory |
1 |
2 |
3 |
All |
|
Third
Party Liability |
$ 693.00 |
$ 384.00 |
$ 278.00 |
$ 590.00 |
|
Collision |
174.00 |
212.00 |
215.00 |
199.00 |
|
Comprehensive |
106.00 |
85.00 |
102.00 |
128.00 |
|
Specified
Perils |
31.00 |
17.00 |
16.00 |
58.00 |
|
Accident
Benefits |
49.00 |
49.00 |
49.00 |
26.00 |
|
Uninsured
Motorists |
19.00 |
10.00 |
7.00 |
9.00 |
and
differentials as submitted with this filing.
3. The following discounts are approved for use
subject to the eligibility criteria set out in the company’s underwriting manual:
|
i. |
multi-vehicle |
10% |
third party liability, collision |
|
ii. |
farmer’s |
40% |
third party liability, collision,
comprehensive, specified perils |
|
iii. |
student |
50% |
third party liability, collision |
4. These
rates shall be effective from May 15, 2001 for new business, and July 1, 2001
for renewals.
Dated
at St. John's, Newfoundland, this 1st day of May, 2001.
Robert Noseworthy
Chairperson &
Chief Executive Officer
Darlene Whalen,
P.Eng.
Vice-Chairperson
G. Cheryl Blundon,
Board Secretary