A.I. 22 (2000-2001)

 

 

 

 

 

 

IN THE MATTER OF THE AUTOMOBILE

INSURANCE ACT, CHAPTER A - 22,

R.S.N. 1990

 

        AND

 

IN THE MATTER OF AN APPLICATION BY

Co-operators General Insurance Company

TO IMPLEMENT REVISED RATES FOR ITS

PRIVATE PASSENGER CLASS OF BUSINESS.

 

 

 

 

WHEREAS, by application received October 23, 2000, Co-operators 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         Order No. A.I. 33 (1999-2000) be and it is hereby rescinded.

              

2.                  Approval be and it is hereby granted Co-operators 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	$ 902.00	$ 424.00	$ 289.00
Collision	195.00	243.00	242.00
Comprehensive	95.00	82.00	95.00
Specified Perils	40.00	20.00	20.00
Accident Benefits	92.00	48.00	48.00
Uninsured Motorist	18.00	18.00	18.00

 

 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.	preferred plus	20%	All coverages, at Driving Record 7
ii.	select plus	10%	All coverages, at Driving Record 6
iii.	multi vehicle	5%	Third party liability & collision
iv.	mature driver	5%	Third party liability & collision
v.	multi product	10%	Third party liability, collision, comprehensive, specified perils, all perils,
vi.	renewal, claims free	5%	All Section C coverages

 

4.                  The following surcharge is approved for use subject to the criteria set out in the company’s underwriting manual:

accident surcharge

30%

Third party liability, collision

 

 

5.                  These rates shall be effective January 2, 2001 for new business and February 7, 2001 for renewals.

 

 

Dated at St. John's, Newfoundland, this 28^th day of November, 2000.

 

 

                                                                                                                                     

David A. Vardy,

Chairperson

                                                                                   

 

                                                                                                                                                 

Darlene Whalen, P. Eng.

Vice-Chairperson

 

                                                           

Cheryl Blundon,

Board Secretary