ORDERS ISSUED BY THE BOARD DURING 2007
UNDER
THE AUTOMOBILE INSURANCE ACT
CHAPTER - 22, 1990
Co-operators General Insurance Company A.I. 1
(2007)
Application:
For approval to implement revised rates for its Private Passenger class
of business.
Decision:
1.
The rates proposed in the
Applicant’s January 8, 2007 revised rate proposal are approved as stated in
order.
2.
The proposed Class of Use
definitions are accepted for use.
3.
The proposed discount program is
approved.
4.
The proposed capping provisions
for Other Operators are approved and are to remain in place until a further
Category 2 filing is made.
5.
The Applicant shall pay all the
expenses of the Board arising from this application.
Date Issued:
January 22, 2007
Canadian Union Insurance Company A.I. 2
(2007)
Application:
For approval to implement revised rates for its Private Passenger class
of business.
Decision:
1.
The proposed rates are
prohibited.
2.
The Applicant shall file with the
Board revised rate indications reflecting the findings of the Board which
specifically include an ROI of 4.76%, and the removal of the 2.5% associated
with the industry loss data reinsurance expense.
3.
The Applicant shall submit for
the approval of the Board a revised rate proposal which for each coverage shall
be no more than the indications filed with the Board, in accordance with this
Order setting out the proposed effective dates for the rates to take effect.
4.
The proposed discount program is
approved.
5.
The Applicant shall pay all the
expenses of the Board arising from this filing.
Date Issued:
April 5, 2007
Facility Association A.I. 3
(2007)
Application:
An
application by Facility Association for an Order of the Board approving revisions
to rates charged for private passenger and miscellaneous vehicle automobile
insurance policies issued through the Facility Association mechanism, pursuant
to section 102 of Insurance Companies Act.
Decision:
1.
Thomas Johnson as Consumer
Advocate is designated as an Intervenor.
2.
The issue of whether Facility
Association is permitted to include in rates a provision for the recovery of
the cost of capital will be considered in advance of the other issues, without
consideration of the amount of the provision, in accordance with the schedule
of dates and the procedures set out in Appendix “A” to this Order, unless and
until changed by the Board.
3.
The remaining issues arising from
the Application will be considered in a process to be determined by the Board after
the issuance of the Order of the Board in respect of the entitlement to a cost
of capital issue.
4.
The Rules of Procedure as set out
in Appendix “B” to this Order are hereby approved for this proceeding.
Date Issued:
April 27, 2007
Canadian Union Insurance Company A.I. 4
(2007)
Application:
For approval to implement resubmitted revised rates for its Private
Passenger class of business.
Decision:
1.
The revised rate proposal received
by the Board on April 23, 2007 is approved with base rates as stated in order.
2.
The base rates for each type of
coverage shall be effective for new and renewal business no sooner than May 28,
2007 and no later than July 25, 2007.
Date Issued:
May 14, 2007
Federation Insurance Company of Canada A.I. 5
(2007)
Application:
For approval to implement revised rates for its Private Passenger class
of business.
Decision:
1.
The proposed rates are
prohibited.
2.
The Applicant shall file with the
Board revised rate indications reflecting the findings of the Board which
specifically include:
(a) an ROE of 10%;
(b) an ROI of 5.4%;
(c) a premium to surplus ratio of 2.25 to 1;
(d) the proposed amortization of the expense associated
with the PLR system;
(e) the credibility standard as set out in the Filing
Guidelines; and
(f) no changes to the currently approved
Accident/Conviction Surcharge schedule.
3. The Applicant shall submit for the approval of the Board a revised rate proposal which for each coverage shall be no more than the rate indications revised in accordance with this Order, setting out the proposed effective dates for the rates to take effect.
4. The proposed discount program is approved.
5.
The Applicant shall pay all the
expenses of the Board arising from this filing.
Date Issued:
May 22, 2007
Facility Association A.I. 6
(2007)
Application:
For
approval to withdraw its Application to implement revised rates for its private
passenger and miscellaneous vehicle automobile insurance policies issued
through the Facility Association mechanism.
Decision:
1.
The withdrawal of the Facility
Association Application is approved.
2.
Facility Association shall pay
the costs of the Board arising from this Application.
Date Issued:
July 26, 2007
Federation Insurance Company A.I. 7
(2007)
Application:
For approval to implement resubmitted revised rates for its Private
Passenger class of business.
Decision:
1.
The revised rate proposal
received by the Board on August 16, 2007 is approved with base rates as stated
in order.
2.
The base rates for each type of
coverage shall be effective for new and renewal business no sooner than
September 15, 2007 and no later than October 1, 2007.
Date Issued:
September 4, 2007
TD Home and Auto Insurance Company A.I. 8
(2007)
Application:
To implement rates for a $0 deductible provision for Section C (Own
Damages) coverage for its Private Passenger class of automobile insurance.
Decision:
The application
by TD Home and Auto Insurance Company to implement rates for a $0 deductible
provision for Section C (Own Damages) coverage for its Private Passenger class
of automobile insurance business is approved with effect from September 7,
2007.
Date Issued:
September 7, 2007
Primmum Insurance Company A.I. 9
(2007)
Application:
To implement rates for a $0 deductible provision for Section C (Own
Damages) coverage for its Private Passenger class of automobile insurance.
Decision:
The
application by Primmum Insurance Company to implement rates for a $0 deductible
provision for Section C (Own Damages) coverage for its Private Passenger class
of automobile insurance business is approved with effect from September 7,
2007.
Date Issued:
September 7, 2007
Security National Insurance Company A.I. 10
(2007)
Application:
To implement rates for a $0 deductible provision for Section C (Own
Damages) coverage for its Private Passenger class of automobile insurance.
Decision:
The
application by Security National Insurance Company to implement rates for a $0 deductible
provision for Section C (Own Damages) coverage for its Private Passenger class
of automobile insurance business is approved with effect from September 7,
2007.
Date Issued:
September 7, 2007
TD Home and Auto Insurance Company A.I. 11
(2007)
Application:
To implement revised rates for one endorsement and to introduce two new
endorsements for its Private Passenger class of automobile insurance.
Decision:
With effect from September 7, 2007:
1. The proposed rate for the new Endorsement 27 S-Grand
Touring is approved.
2. The proposed rate for the new Endorsement 43S-5 Year
Replacement Cost is approved.
3. The revised rate for the SEF 20 Loss of Use
endorsement is approved.
Date Issued:
September 7, 2007
Security National Insurance Company A.I. 12
(2007)
Application:
To implement revised rates for two endorsements and to introduce one new
endorsement
Decision:
With effect from September 7, 2007:
1. The proposed rate for the Endorsement 27 S-Grand
Touring is approved.
2. The proposed rate for the new Endorsement 43S-5 Year
Replacement Cost is approved.
3. The revised rate for the Endorsement SEF 43R/43L-
Limited Waiver of Depreciation is approved.
Date Issued:
September 7, 2007
Primmum Insurance Company A.I. 13
(2007)
Application:
To
implement revised rates for one endorsement and to introduce two new
endorsements for its Private Passenger class of automobile insurance business.
Decision:
With effect from September 7, 2007:
1. The proposed rate for the new Endorsement 27 S-Grand
Touring is approved.
2. The proposed rate for the new Endorsement 43S-5 Year
Replacement Cost is approved.
3. The revised rate for the SEF 20 Loss of Use
endorsement is approved.
Date Issued:
September 7, 2007
IAO Actuarial Consulting Service A.I. 14
(2007)
On behalf of: Liberty Mutual Insurance Company
Application:
To
adopt IAO advisory rates for its Private Passenger, Commercial, Interurban and
Miscellaneous classes of automobile insurance business written in the Province.
Decision:
The application
by IAO Actuarial Consulting Service, on behalf of Liberty Mutual Insurance
Company to adopt IAO advisory rates for its Private Passenger, Commercial,
Interurban and Miscellaneous classes of automobile insurance business is
approved with effect from September 7, 2007.
Date Issued:
September 7, 2007
IAO Actuarial Consulting Service A.I. 15
(2007)
On behalf of: Liberty Mutual Insurance Company
Application:
To adopt
IAO advisory rates for its Garage class of automobile insurance business
written in the Province.
Decision:
The
application by IAO Actuarial Consulting Service, on behalf of Liberty Mutual
Insurance Company to adopt IAO advisory rates for its Garage class of
automobile insurance business is approved with effect from September 7, 2007.
Date Issued:
September 7, 2007
Axa Insurance (Canada) A.I. 16
(2007)
Application:
Submitting a Category 1 rate filing for its commercial class of
automobile insurance business.
Decision:
With effect from January 1, 2008:
2. The proposed surcharge schedule is approved.
3. The proposed Class 51 and 61 commercial vehicle rates
are approved.
Date Issued:
November 15,
2007
The Sovereign General Insurance
Company A.I. 17
(2007)
Application:
To adopt the rates and
rating program of Canadian Union Insurance Company for its private passenger
class of business.
Decision:
1.
With effect from January 5, 2008:
The
application by The Sovereign General Insurance Company to utilize the
private-passenger rating program of Canadian Union Insurance Company is
approved.
2. The Applicant shall annually commencing before March 30, 2008 and continuing thereafter until it applies to the Board for approval of a rating program based on its own experience report to the Board the numbers of private passenger automobiles written and the premiums associated therewith.
Date Issued:
December 5,
2007
Zurich Canada A.I. 18
(2007)
On behalf of: Zurich Insurance Company
Application:
For approval of rates for increased third party liability limits and S.E.F. 44 coverage for ATV’s.
Decision:
With effect from December 20, 2007:
The application of Zurich Insurance Company for increased limits for
third party liability and S.E.F. 44 rates for ATV’s is approved.
Date Issued:
December 20,
2007
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