A.I. 5 (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
Lombard Canada
on behalf of
Lombard Insurance Company,
Lombard General Insurance Company of Canada, and
Tokio Marine & Fire
Insurance Company Limited (The Applicant)
TO
IMPLEMENT REVISED RATES FOR THEIR
COMMERCIAL
CLASS OF BUSINESS.
WHEREAS by application received April 2, 2001, the Applicant applied to the Board for approval to implement a revised rating program for their 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.
IT IS THEREFORE ORDERED THAT:
1.
Order No. A.I. 22 (1998-99) be and it is hereby rescinded.
2.
Approval
be and it is hereby granted the Applicant for the implementation of a revised
rating program for their Commercial class of business with base rates as
follows:
|
|
All Territories |
|
Third Party Liability |
$ 594.31 |
|
Collision |
$ 178.96 |
|
Comprehensive |
$ 119.68 |
|
Specified Perils |
$ 58.26 |
|
Accident Benefits |
$ 21.00 |
|
Uninsured Motorist |
$ 8.00 |
|
All Perils |
$ 256.27 |
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 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