REGINA – Last night, Official Opposition Critic for SGI Aleana Young attended the Saskatchewan Rate Review Panel hearing to reject SGI’s proposed increases and instead cut rates for Saskatchewan families.
The 2020-21 Saskatchewan Auto Fund Annual Report shows that, even after rebating $285 million back to policyholders, Saskatchewan’s Auto Fund is still far above their internal target of 140%, currently sitting at 168%, meaning more than $180 million can be returned to customers through lower insurance rates while maintaining SGI’s own minimum capital test requirements.
“SGI is supposed to operate the Auto Fund on a break-even basis and keep rates affordable for Saskatchewan families. The reality is that this government is playing political games with the rates to try and balance their books,” said Young. “The income generated by our crowns doesn’t belong to Premier Moe and the Sask. Party. It belongs to the people of Saskatchewan. We should be doing everything possible to put more money in peoples’ pockets.”
The Saskatchewan Auto Fund is the province's compulsory auto insurance program administered by Saskatchewan Government Insurance (SGI), a provincial crown corporation.