SGI REPORT SHOWS SASKATCHEWAN AUTO FUND WILL LOSE MILLIONS MORE THAN LAST YEAR

Drivers Should Prepare For Vehicle Insurance Rates To Rise

SASKATOON – Drivers should brace for higher auto insurance premiums as the SGI Auto Fund’s first quarter financial update forecasts hundreds of millions in losses.

The SGI Auto Fund first quarter report, quietly released online by the Sask. Party government, has the Crown on track to lose even more than the $230.8 million forecasted in the Sask. Party ‘s 2025-26 budget.

Last year SGI had to draw down $198.1 million from its reserve fund. SGI’s first quarter report warns that this year’s losses will be even bigger.

“This report shows that the Sask. Party has been asleep at the switch and that rate hikes are on the horizon,” said Hugh Gordon, Saskatchewan NDP Shadow Minister for SGI.

“We’re looking at potentially a half a billion dollars in losses over 2 years and you know who’s going to pay the price for the Sask. Party’s mismanagement? Every driver in this province. The Sask. Party will be forced to hike insurance premiums to make up for their mismanagement.”

The Sask. Party has recently come under fire for stacking the province’s Crown boards with political loyalists and Sask. Party operatives – many of which have been committed to privatization.

“Families are already stretched to the breaking point with rising utility bills, record grocery prices, and higher housing costs. When insurance premiums go up, it’s working people who take the hit. Working people who need their vehicles to get to work, take kids to school, and make ends meet,” said Gordon.

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