A.I. 7 (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
Halifax Insurance Company of Canada
TO IMPLEMENT REVISED RATES FOR ITS
PRIVATE PASSENGER CLASS OF BUSINESS.
WHEREAS
by application, received March 16, 2001, The Halifax Insurance Company of 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 the filing conforms with the Benchmarks, and
IT
IS THEREFORE ORDERED THAT:
1. Order No. A.I. 19 (2000-2001) be and it is hereby rescinded.
2.
Approval be and it is hereby granted The Halifax Insurance
Company of 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 |
$
846.00 |
$
444.00 |
$
322.00 |
|
Collision |
212.00 |
246.00 |
249.00 |
|
Comprehensive |
116.00 |
93.00 |
112.00 |
|
Specified Perils |
44.00 |
25.00 |
21.00 |
|
Accident Benefits |
58.00 |
58.00 |
58.00 |
|
Uninsured Motorist |
19.00 |
19.00 |
19.00 |
|
All Perils |
292.00 |
310.00 |
326.00 |
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 |
12% |
Third Party Liability, Collision, and
Accident Benefits -
Classes 01, 02, 03, 07, 08, 09, 13, 18 & 19 |
|
ii. |
farmers |
40% |
Third Party Liability, Collision,
Comprehensive, and Specified Perils -
Classes 03, 08, 09, 18 & 19 |
|
iii. |
electronic-data
interchange |
10% |
Third Party Liability, Collision,
Comprehensive, Specified Perils, Uninsured Motorist, and Accident
Benefits -
Classes 01, 02, 03 & 07 |
|
iv. |
account |
5% |
Third
Party Liability, Collision, Comprehensive, Specified Perils, Uninsured
Motorist, and Accident Benefits |
|
v. |
short
commute |
5% |
Third Party Liability, Collision, and Accident Benefits |
|
vi. |
special
age |
5%
- 15% |
Third Party Liability, Accident Benefits, Collision, All Perils, Comprehensive and Specified Perils -
Classes 01, 02, 03 & 07 |
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