A.I. 35 (2001-2001)

 

 

 

 

 

IN THE MATTER OF THE AUTOMOBILE

INSURANCE ACT, CHAPTER A - 22,

R.S.N. 1990

 

        AND

 

IN THE MATTER OF AN APPLICATION BY

Meloche Monnex on behalf of

Canada Life Casualty Insurance Company

TO IMPLEMENT REVISED RATES FOR ITS

PRIVATE PASSENGER CLASS OF BUSINESS.

 

 

 

 

WHEREAS, by application received May 3, 2001, Meloche Monnex on behalf of Canada Life Casualty Insurance Company applied to the Board for approval to implement a revised rating program for its Private Passenger 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.

 


IT IS THEREFORE ORDERED THAT:

 

1.                  Order No. A.I. 42 (1998-99) be and it is hereby rescinded.

 

2.                  Approval be and it is hereby granted Canada Life Casualty Insurance Company

            for the implementation of a revised rating program for its Private Passenger class of business with base rates as follows:

Territory

1

       2

         3

Third Party

$ 982

$ 436

$ 348

Collision

213

247

249

Comprehensive

125

102

121

Specified Perils

32

18

17

Accident Benefits

75

53

53

Uninsured Motorist

20

10

7

All Perils

332

344

364

 

 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

8%

third party liability, specified perils, collision, comprehensive, and

all perils

 

ii.   age

10%

third party liability, collision, comprehensive, specified perils, and all perils

 

iii. student away          from home at       university

60%

third party liability, collision, and

collision portion of all perils

 

4.         These rates shall be effective June 1, 2001for 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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