Higher Contract-A Insurance Premiums
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INSURANCE rates for vehicles authorized under contract-A licenees have been raised by the Provincial Insurance Co., Ltd., because of heavy claims.
The Provincial are a non-tariff company and they, like tariff concerns, had been following the practice of quoting rates for contract-A vehicles at a level between those for C-licence and Blicence vehicles. It remains to be seen whether other insurers will follow a similar policy.
The Commercial Motor could obtain no indications of this, but was assured by a spokesman of the Provincial that the move had nothing to do with denationalization.
This company now quote contract-A rates on the A-licence scale, which is higher than that for B-licence vehicles. The scale for C-licence vehicles is the lowest.