A.I. 14 (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
Axa
Canada on behalf of
Axa
Insurance (Canada)
TO IMPLEMENT REVISED RATES FOR ITS
PRIVATE PASSENGER CLASS OF BUSINESS.
WHEREAS,
by application received April 4, 2001, Axa Canada on behalf of Axa Insurance (Canada) 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. Order No. A.I. 1 (1999-2000) be and it is hereby rescinded.
2.
Approval be and it is hereby granted Axa Canada on behalf of Axa
Insurance (Canada) 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 Liability |
$ 1156.00 |
625.00 |
$ 479.00 |
|
Collision |
287.00 |
350.00 |
376.00 |
|
Comprehensive |
148.00 |
118.00 |
151.00 |
|
Specified
Perils |
39.00 |
21.00 |
20.00 |
|
Accident
Benefits |
103.00 |
103.00 |
103.00 |
|
Uninsured
Motorist |
40.00 |
20.00 |
17.00 |
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. |
mature-driver (age
dependent) |
5% to 20% |
all coverages |
|
ii. |
multi-vehicle |
10% |
all coverages |
|
iii. |
student, away from home |
50% |
all coverages |
|
iv. |
employee |
25% |
all coverages |
4. These
rates shall be effective 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