PUB Automobile Insurance Order A.I. 44 (2001-2002)

WHEREAS, by application received April 18, 2001, Lloyd’s Underwriters applied to the Board for approval to implement a revised rating program for its Private Passenger, Commercial, and Miscellaneous classes of business, and

WHEREAS, the Board, after due examination and analysis of the proposed private passenger rating program, finds that rates for third party liability, territory 2, and collision, territory 3, require adjustment for the rating program to conform with the 2001 Benchmarks, and

WHEREAS, the Board, after due examination and analysis of the proposed Commercial rating program, finds that the rate for third party liability and collision require adjustment for the rating program to conform with the 2001 Benchmarks, and

WHEREAS, the Board, after due examination and analysis of the proposed Miscellaneous rating program, finds that it should be approved as filed.

IT IS THEREFORE ORDERED THAT:

1. Order No. A.I. 2 (2000-2001) be and it is hereby rescinded.

2. Approval be and it is hereby granted Lloyd’s Underwriters for the implementation of a revised rating program for its Private Passenger and Commercial classes of business with base rates as follows:

	Private Passenger			Commercial
Territory	1	2	3
Third Party	$ 780	$ 436	$ 315	$ 585
Collision	196	240	239	181
Comprehensive	120	97	116	115
Specified Perils	35	20	19	46
Accident Benefits	56	54	53	23
Uninsured Motorist	19	12	12	13
All Perils	290	316	331	258

and differentials as submitted with this filing.

3. The following discounts are approved for use with the private passenger rating program, subject to the eligibility criteria set out in the company=s underwriting manual:

i. merit	5%	third party liability, collision, comprehensive, accident benefits, specified perils, and all perils
ii. renewal	5%	third party liability, collision, comprehensive, accident benefits, specified perils, and all perils
iii. mature	5%	third party liability, collision, comprehensive, specified perils, all perils, and accident benefits
iv. multi vehicle	5%	third party liability, collision, comprehensive, accident benefits, specified perils, and all perils

4. The following discount is approved for use with the commercial rating program, subject to the eligibility criteria set out in the company=s underwriting manual:

i. merit

10%

third party liability, collision, and collision portion of all perils

5. Approval be and it is hereby given Lloyds Underwriters for the implementation of a revised Miscellaneous classes rating program as submitted with this filing.

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