A.I. 32 (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
Echelon
General Insurance Company
TO IMPLEMENT REVISED RATES FOR ITS
PRIVATE PASSENGER CLASS OF BUSINESS.
WHEREAS,
by application received February 22, 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 Order No. A.I. 32 (1999-2000) be and it is hereby rescinded.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 |
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|
Third
Party |
$ 823.56 |
$ 475.80 |
$ 380.64 |
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|
Collision |
226.70 |
276.65 |
311.10 |
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|
Comprehensive |
136.00 |
108.00 |
114.00 |
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|
Specified
Perils |
43.00 |
23.00 |
22.00 |
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Accident
Benefits |
114.00 |
114.00 |
114.00 |
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|
Uninsured
Motorist |
20.00 |
20.00 |
20.00 |
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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 April
23, 2001 for new business and May 30, 2001 for renewals.
Dated at St. John's, Newfoundland,
this 28th day
of March, 2001.
Robert
Noseworthy
Chairperson & Chief Executive Officer
Darlene Whalen, P.Eng.
Vice-Chairperson
G. Cheryl Blundon,
Board Secretary