A.I. 29 (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

The Portage La Prairie Mutual Insurance Company

TO IMPLEMENT RATING PROGRAMS  FOR

ITS PRIVATE PASSENGER, AND COMMERCIAL,

CLASSES OF BUSINESS

 

 

 

 

 

 

WHEREAS, by application received March 30, 2001, The Portage La Prairie Mutual Insurance Company applied to the Board for approval to implement revised rating programs for its Private Passenger and Commercial classes of business, and 

 

WHEREAS, the Board, after due examination and analysis of the proposed rating programs, finds that they conform with the 2001 Benchmarks and should be approved as filed, and

 

IT IS THEREFORE ORDERED THAT:

 

1.                  Order No. A.I. 2 (1999-2000) be and it is hereby rescinded.

 

2.         Approval be and it is hereby granted The Portage La Prairie Mutual Insurance Company for the implementation of rating programs for its Private Passenger and Commercial classes of business with base rates as follows:

 

 

 

                       Private Passenger                         Commercial

 

Territory

1

2

3

All

 

 

Third Party

$772.24

$ 419.32

$ 303.57

$531.00

 

 

Collision

 201.21

 246.55

 250.97

 179.00

 

 

Comprehensive

117.35

94.10

112.07

115.00

 

 

Specified Perils

 29.60

 16.92

 15.86

 46.00

 

 

Accident Benefits

51.81

51.81

51.81

20.00

 

Uninsured Motorists

20.09

10.57

7.40

8.02

 

All Perils

314.95

344.95

364.20

257.00

 

 

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.

 

multi vehicle

 

10%

 

third party liability, collision portion of  all perils, and collision

 

ii.

 

claims free

 

5%

 

all coverages

 

iii.

 

multi line

 

5%

 

all coverages

 

iv.

 

renewal

 

10%

 

all coverages

 

v.

 

Club 50

 

5%

 

all coverages, including SEF's

 

vi.

 

farmers and fishermen

 

40%

 

 

 

25%

 

third party liability,

collision portion of all perils and collision

 

comprehensive, and

specified perils

                                                                             

4.         These rates shall be effective from June 1, 2001 for new business and July 1, 2001 for renewals.



Dated at St. John's, Newfoundland, this 16th day of May, 2001.

 

 

 

 

                                                                 

Robert Noseworthy

Chairperson & Chief Executive Officer

 

 

 

 

                                                              

Darlene Whalen, P.Eng.

Vice-Chairperson

 

 

 

 

 

                                                           

Barbara Thistle

Assistant Board Secretary        


 

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