IN THE MATTER OF THE AUTOMOBILE
INSURANCE ACT, CHAPTER A - 22,
R.S.N. 1990
AND
IN THE MATTER OF AN APPLICATION BY
CONTINENTAL
INSURANCE COMPANY AND
CONTINENTAL
CASUALTY COMPANY
TO IMPLEMENT REVISED RATES FOR ITS
PRIVATE PASSENGER CLASS OF BUSINESS.
WHEREAS,
by application received May 15, 2000, Continental Insurance Company and Continental
Casualty 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 Benchmarks and should be approved as filed.
IT
IS THEREFORE ORDERED THAT:
1. Approval be and it is hereby granted
Continental Insurance Company and Continental Casualty Company for the
implementation of a revised rating program for its Private Passenger class of
business with base rates as follows:
|
Territory |
1 |
2 |
3 |
|
||||||
|
Third
Party |
$ 867.00 |
$ 457.00 |
$ 352.00 |
|
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|
Collision |
195.00 |
218.00 |
237.00 |
|
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|
Comprehensive |
108.00 |
86.00 |
115.00 |
|
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|
Specified
Perils |
49.00 |
26.00 |
25.00 |
|
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|
Accident
Benefits |
106.00 |
106.00 |
106.00 |
|
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|
Uninsured
Motorist |
19.00 |
19.00 |
19.00 |
|
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|
|
|
|
|
|
|
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and differentials as submitted
with this filing.
2. The following discounts are approved
for use subject to the eligibility criteria set out in the company’s
underwriting manual:
|
i. multi
vehicle |
15% |
third party liability, accident benefits, & collision |
|
ii. mature driver |
10% |
all coverages |
3. These rates shall be
effective July
1, 2000 for new business and renewals.
Dated at St. John's,
Newfoundland, this 13th day of June, 2000.
Darlene
Whalen, M.A.Sc., P. Eng.
Vice-Chairperson
Cheryl Blundon
Board Secretary