A.I. 56  (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

IAO Actuarial Consulting Services on behalf of

Pembridge Insurance Company

TO IMPLEMENT REVISED RATES FOR

ITS PRIVATE PASSENGER

CLASS OF BUSINESS

WHEREAS, by application received June 22, 2001, IAO Actuarial Consulting Services on behalf of Pembridge 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 2001 Benchmarks and should be approved as filed.

IT IS THEREFORE ORDERED THAT:

1.                  Orders No. A.I. 50 (2001-02)  be and it is hereby rescinded. 

2.                  Approval be and it is hereby granted Pembridge Insurance Company for the implementation of a revised rating program for its Private Passenger class of business and continuation of its rating program for its Commercial class of business as approved in A.I. 67 (1998-99) with base rates as follows:

and differentials as submitted with this filing.

3.      The rates approved herein may not be altered or varied by the application of any discounts or surcharges that have not been filed with and approved by the Board.

4.      These rates shall be effective from August 15, 2001 for new business, and October 1, 2001 for renewals.

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