A.I. 3 (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

Allianz Insurance Company of Canada

TO IMPLEMENT REVISED RATES FOR

ITS PRIVATE PASSENGER

AND COMMERCIAL CLASSES OF BUSINESS

 

 

 

 

 

 

WHEREAS, by application received March 22, 2001, Allianz Insurance Company of Canada applied to the Board for approval to implement revised rating programs for its Private Passenger and Commercial classes of business, and 

 

WHEREAS, the Board, after due examination and analysis of the proposed rating programs, finds that they conform with the Benchmarks and should be approved as filed.


 

IT IS THEREFORE ORDERED THAT:

 

1.         Order No. A.I. 35 (1998-99) be and it is hereby rescinded. 

 

2.                  Approval be and it is hereby granted Allianz Insurance Company of Canada  for the implementation of revised rating programs for its Private Passenger and Commercial classes of business with base rates as follows:

 

 

                   Private Passenger        Commercial

Territory

1

2

3

All

Third Party Liability

$ 693.00

$ 384.00

$ 278.00

$ 590.00

Collision

 174.00

 212.00

 215.00

 199.00

Comprehensive

 106.00

 85.00

 102.00

 128.00

Specified Perils

 31.00

 17.00

 16.00

 58.00

Accident Benefits

 49.00

 49.00

 49.00

 26.00

Uninsured Motorists

 19.00

 10.00

 7.00

 9.00

 

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

10%

third party liability, collision

 

ii.

farmer’s

40%

third party liability, collision, comprehensive, specified perils

 

iii.

student

50%

third party liability, collision

           


4.        These rates shall be effective from May 15, 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

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