October 3, 2000
The government has accepted the Saskatchewan Rate Review Panel's recommendations on SGI's request for rate changes to the Auto Fund.
"We accept the panel's conclusion that at this time, there is no need for a general increase of two per cent in vehicle insurance premiums," Crown Investments Corporation Minister John Nilson said. "We also agree with the panel's conclusion there is a need for re-balancing among some classes of vehicles so that premiums better reflect the cost of insurance. The changes will take effect January 1, 2001."
"The panel has done a thorough job of evaluating SGI's requests, and its recommendations are fair and reasonable," Nilson said. "In making its recommendations, the panel has considered the interests of consumers, SGI and the public. Drivers in Saskatchewan will continue to pay the lowest auto insurance rates, on average, in Canada, and SGI will continue to reduce the deficit in the Auto Fund."
This is the first rate review conducted by the Saskatchewan Rate Review Panel since it was established in July, 2000. The Panel's mandate is to review rate change requests that may be brought forward by Crown corporations, and to make recommendations to government.
"One of the key decisions we made with our partners in the new coalition government was to establish an independent review body for proposed changes in utility rates," Nilson said. "The quality of the panel's work in conducting this review and the high number of people who expressed their views indicate the model we have chosen is working well."
"I would like to thank the members of the panel, including Chair Bob Lacoursiere, Vice Chair Jack Boan, Tracey Bakkeli, Jo-Ann Carignan-Vallee, Sheldon Craig, and Joan Meyer, for all of their hard work on this review," Nilson said.
"I would also like to thank the hundreds of Saskatchewan people who attended the panel's public meetings or contacted the panel by phone, mail, fax, e-mail or through the panel's web site, to share their views. This is a good sign that the process is working well."
Crown Investments Corporation
Phone: (306) 787-9039