A.I. 30(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

Axa Insurance (Canada) on behalf of Insurance Corporation of Newfoundland

TO IMPLEMENT REVISED RATES FOR ITS

COMMERCIAL CLASS OF BUSINESS.

 

 

 

 

WHEREAS by application received December 28, 2000, Axa Insurance (Canada) on behalf of Insurance Corporation of Newfoundland applied to the Board for approval to implement a revised rating program for its Commercial class of business, and

 

WHEREAS, the Board, after due examination and analysis of the proposed rating program, finds that it should be approved as filed. 


IT IS THEREFORE ORDERED THAT:

 

1.                  Board Order A.I. 17 (1998-99) be and it is hereby rescinded.

 

2.                  Approval be and it is hereby granted Insurance Corporation of Newfoundland for the implementation of a revised rating program for its Commercial class of business with base rates as follows:            

 

All Territories

Third Party Liability

$649.00

Collision

205.00

Comprehensive

141.00

Specified Perils

 67.00

Accident Benefits

 29.00

Uninsured Motorist

9.00

                        and differentials as submitted with this filing.

 

 

3.                  The rates approved herein may not be altered or varied by the application of any surcharge or discount which has not been filed with and approved by the Board.

 

4.         These rates shall be effective from April 1, 2001 for new business and renewals.  

 

 

Dated at St. John's, Newfoundland, this 12th of January, 2001.

 

 

 

                                                                                                                                                                                   

Darlene Whalen, P. Eng.

Vice-Chairperson

 

 

 

 

                                                              

Barbara Thistle

Assistant Board Secretary

Board Secretary

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