A.I. 35 (2001-2001)
IN THE MATTER OF THE AUTOMOBILE
INSURANCE ACT, CHAPTER A - 22,
R.S.N. 1990
AND
IN THE MATTER OF AN APPLICATION BY
Meloche
Monnex on behalf of
Canada
Life Casualty Insurance Company
TO IMPLEMENT REVISED RATES FOR ITS
PRIVATE PASSENGER CLASS OF BUSINESS.
WHEREAS,
by application received May 3, 2001, Meloche Monnex on behalf of Canada Life
Casualty Insurance 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.
Order No. A.I. 42 (1998-99) be and
it is hereby rescinded.
2.
Approval be and it is hereby granted Canada Life Casualty
Insurance 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 |
$ 982 |
$ 436 |
$ 348 |
|
Collision |
213 |
247 |
249 |
|
Comprehensive |
125 |
102 |
121 |
|
Specified
Perils |
32 |
18 |
17 |
|
Accident
Benefits |
75 |
53 |
53 |
|
Uninsured
Motorist |
20 |
10 |
7 |
|
All
Perils |
332 |
344 |
364 |
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 |
8% |
third party liability, specified perils,
collision, comprehensive, and all perils |
|
ii. age |
10% |
third party liability, collision, comprehensive,
specified perils, and all perils |
|
iii. student away from
home at university |
60% |
third party liability, collision, and collision portion of all perils |
4. These rates shall be
effective June
1, 2001for 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