A.I. 32 (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

Atlantic Insurance Company Limited

TO IMPLEMENT REVISED RATES FOR

ITS PRIVATE PASSENGER

AND COMMERCIAL CLASSES OF BUSINESS

 

 

 

 

WHEREAS by application received April 24, 2001, Atlantic Insurance Company Limited 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 2001 Benchmarks and should be approved as filed.

 

 

IT IS THEREFORE ORDERED THAT:

 

1.         Order No. A.I. 24  (1998-99) be and it is hereby rescinded. 

 

2.         Approval be and it is hereby granted Atlantic Insurance Company Limited 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

 

$728

 

$440

 

$340

 

$600

 

Collision

$212

$242

$272

$200

 

Comprehensive

$130

$103

$138

$140

 

Specified Perils

$47

$25

$24

$70

 

Accident Benefits

$80

$80

$80

$35

 

Uninsured Motorists

$30

$20

$14

$13

 

 

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:

 

multi vehicle

20%

second and subsequent class 01, 02, 03 or 07 vehicles

 

third party liability and collision

 

4.         These rates shall be effective from June 1, 2001 for new business, and July 1, 2001 for renewals.

 

 

 

Dated at St. John's, Newfoundland, this 16th day of May, 2001.

 

 

 

                                                                 

Robert Noseworthy

Chairperson & Chief Executive Officer

 

 

 

 

                                                              

Darlene Whalen, P.Eng.

Vice-Chairperson

 

 

 

 

 

                                                           

Barbara Thistle

Assistant Board Secretary        

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