A.I. 50 (2001-2002)
IN THE MATTER OF THE AUTOMOBILE
INSURANCE ACT, CHAPTER A - 22,
IN THE MATTER OF AN APPLICATION BY
Pembridge Insurance Company
TO CONTINUE USING ITS CURRENT RATES FOR
PRIVATE PASSENGER AND COMMERCIAL CLASSES OF BUSINESS
AND CANCELLATION OF A.I. 39 (2001-2002)
WHEREAS, the Board, on its own initiative, by Order No. A.I. 39 (2001-2002), dated May 16, 2001, set commercial and private passenger automobile insurance rating programs with base rates set at the upper level of the benchmark range of rates for all coverages, and
WHEREAS, by correspondence received June 7, 2001, Pembridge Insurance Company requested that it be allowed to continue its currently-approved rating program until it can complete a rate review filing, and
WHEREAS a review of the rating programs previously in place indicated that they generally comply with the 2001 Benchmarks.
IT IS THEREFORE ORDERED THAT:
1. Order No. A.I. 39 (2001-2002) be and it is hereby rescinded in its entirety.
2. Pembridge Insurance Company shall submit to the Board, no later than June 27, 2001, commercial and private passenger automobile insurance rating programs utilizing the differentials and benchmark ranges as established by the 2001 Benchmarks.
Dated at St. John's, Newfoundland, this 13th day of June, 2001.
Chairperson & Chief Executive Officer
Darlene Whalen, P.Eng.
Assistant Board Secretary
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