A.I. 56  (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

IAO Actuarial Consulting Services on behalf of

Pembridge Insurance Company

TO IMPLEMENT REVISED RATES FOR

ITS PRIVATE PASSENGER

CLASS OF BUSINESS

 

 

 

 

WHEREAS, by application received June 22, 2001, IAO Actuarial Consulting Services on behalf of Pembridge 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 2001 Benchmarks and should be approved as filed.

 

 

IT IS THEREFORE ORDERED THAT:

 

1.                  Orders No. A.I. 50 (2001-02)  be and it is hereby rescinded. 

 

2.                  Approval be and it is hereby granted Pembridge Insurance Company for the implementation of a revised rating program for its Private Passenger class of business and continuation of its rating program for its Commercial class of business as approved in A.I. 67 (1998-99) with base rates as follows:

 

 

 

                                        Private Passenger            Commercial

 

Territory

 

1

 

2

 

3

 

All

 

 

Third Party

 

$ 803

 

$ 412

 

$ 289

 

$ 663

 

Collision

$ 243

$ 249

$ 223

$ 216

 

Comprehensive

$ 111

$  101

$ 136

$ 137

 

Specified Perils

$   46

$   25

$   24

$ 107

 

Accident Benefits

$   49

$   49

$   49

$   29

 

Uninsured Motorists

$   19

$   10

$     7

$     6

 

All Perils

$ 346

$ 344

$ 346

N/A

 

 

and differentials as submitted with this filing.

 

 

3.      The rates approved herein may not be altered or varied by the application of any discounts or surcharges that have not been filed with and approved by the Board.

 

4.      These rates shall be effective from August 15, 2001 for new business, and October 1, 2001 for renewals.


 

 

Dated at St. John's, Newfoundland, this 26th day of July, 2001.

 

 

 

                                                                 

Robert Noseworthy

Chairperson & Chief Executive Officer

 

 

 

 

                                                              

Darlene Whalen, P.Eng.

Vice-Chairperson

 

 

 

 

 

 

                                                           

Cheryl Blundon

Board Secretary          


 

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