A.I. 6 (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
Co-operators
General Insurance
TO
IMPLEMENT REVISED RATES FOR ITS
COMMERCIAL
CLASS OF BUSINESS.
WHEREAS by
application received March 23, 2001, Co-operators General
Insurance applied
to the Board for approval to implement a revised rating program for its
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:
- Order No. A. I. 23 (1998-99) be and it is
hereby rescinded.
- Approval be and it is hereby granted Co-operators
General Insurance for the implementation of a revised rating program for its
Commercial class of business with base rates as follows:
|
|
All Territories |
|
Third Party Liability |
$ 542.00 |
|
Collision |
$ 197.00 |
|
Comprehensive |
$ 117.00 |
|
Specified Perils |
$ 69.00 |
|
Accident Benefits |
$ 16.00 |
|
Uninsured Motorist |
$ 6.00 |
|
All Perils |
$ 280.00 |
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. |
Extra vehicle |
10% |
third party liability, collision, collision portion of all perils |
|
ii. |
Renewal, Claims-Free |
5% |
collision, comprehensive, specified perils |
4. These rates shall be effective from May 25, 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