A.I. 68 (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
Echelon
General Insurance Company
TO IMPLEMENT REVISED RATES FOR ITS
PRIVATE PASSENGER CLASS OF BUSINESS.
WHEREAS,
by application received September 18, 2001, Echelon General 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 Order No. A.I. 10 (2001-2002) be and it is hereby rescinded.
2.
Approval be and it is hereby granted Echelon General 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 |
$ 823.56 |
$ 475.80 |
$ 380.64 |
|
Collision |
232.92 |
284.23 |
319.63 |
|
Comprehensive |
132.86 |
105.51 |
111.37 |
|
Specified
Perils |
42.01 |
22.47 |
21.49 |
|
Accident
Benefits |
114.00 |
114.00 |
114.00 |
|
Uninsured
Motorist |
20.00 |
20.00 |
20.00 |
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. extra vehicle |
5% |
Third party liability, collision & collision
portion of all perils |
|
ii. mature
driver |
5% |
Third party liability, collision & collision
portion of all perils |
4.
These rates shall be effective November 5, 2001 for new business and December 11, 2001 for renewals.
5.
Echelon
General Insurance Company, upon issuance of the 2002 Filing Instructions by the
Board, shall submit a revised private passenger rate filing in accordance with
those instructions.
Dated at St. John's,
Newfoundland, this 20th day of September, 2001.
Darlene Whalen, P.Eng.
Vice-Chairperson
G. Cheryl Blundon,
Board Secretary