H-1Part 1 - Non-confidential
8 passages
NON-CONFIDENTIAL Page 4 Insurer Name: Heartland Farm Mutual Inc. (temporarily branded as The Kings Mutual Insurance) Group Name: Category of Insurance: Heartland Farm Mutual Inc. Private Passenger Vehicles SUMMARY OF INFORMATION NC-1 Descr...
AI summary The document outlines a filing by Heartland Farm Mutual Inc. proposing changes to insurance rates and procedures, including a base rate change, effective dates, and a deadline for decision-making. It also requests the distribution of risks by policy term.
6 month % 0 % 12 month % 100 % Other % 0 % Total % 100 % NON-CONFIDENTIAL Page 5 NC-4 State other categories of automobile insurance that may be affected by this proposed rate change (e.g., public vehicle rates that are dependent on privat...
AI summary The text outlines requirements for submitting rate change proposals, specifically highlighting the need to identify other categories of automobile insurance affected by the proposed changes and to base all changes solely on dependent categories, with non-dependent changes requiring separate filings.
Please refer to the following page for the completed certificates. 1 Louis Durocher Presiden t & CEO 1. Tł nis rate filing is in r respect of the Private P assenger Vehicles •
AI summary The text references a page for completed certificates and includes a table with a name, title, and some partially obscured information related to a rate filing concerning private passenger vehicles.
Certificate of the Actuary Ι, [ Louis Durocher , a Fellow of the Canadian Institute of Actuaries, have been authorized to prepare a rate filing on b ehalf of
AI summary The document begins with the Certificate of the Actuary, signed by Louis Durocher, a Fellow of the Canadian Institute of Actuaries, who has been authorized to prepare a rate filing on behalf of an unspecified entity.
- the data is reliable and sufficient; - the assumptions selected are appropriate; and - the methods used are appropriate; for the purpose of determining the actuarially indicated rates. - 3. I have calculated the actuarially indicated rat...
AI summary The actuary confirms that the data, assumptions, and methods used are reliable and appropriate for determining actuarially indicated rates, which are deemed just and reasonable in the circumstances.
N-4.a – Rating Rule Changes for Classification Variables Change Description of proposed change Rationale for proposed change Rate level effects Estimate of number of policies affected Calculations that validate the rate level effect of the...
AI summary Heartland is proposing to update the definition of the 'Number of drivers' and 'Number of vehicles' classification variables in the rating algorithm to more accurately reflect risk exposure based on driving frequency. The change would adjust the rating differential when the ratio of drivers to vehicles is more than or less than 1.
Comprehensive $500 Deductible Territory Bodily Injury Property Damage DCPD Accident Benefits Uninsured Auto Total Mandatory Coverages END 44 Collision Comprehensive Total Optional Coverages Total of Mandatory and Optional Halifax (B3H) Cur...
AI summary The document presents a comparison of current and proposed insurance rates across various territories in Nova Scotia, including changes in mandatory and optional coverages such as Bodily Injury, Property Damage, and Comprehensive coverage. The proposed rates show significant variations, with some areas experiencing substantial increases and others decreases.
Classification Treatment: By operator, specify class, driving record, rate group, etc., and the % amount of any applicable discounts or surcharges. Current: Proposed: Profile 10-PO Private Passenger:
AI summary The text discusses the classification treatment for insurance rates, focusing on specifying class, driving record, rate group, and applicable discounts or surcharges by operator. It includes a table with 'Current' and 'Proposed' columns, and references 'Profile 10-PO Private Passenger'.