The Saskatchewan Government says stability is the main focus point when it comes to Saskatchewan’s Auto Fund through SGI and SGI CANADA’s financial and operational reports tabled in the Legislature Tuesday morning.
“The Saskatchewan Auto Fund is the self-sustaining, compulsory auto insurance plan administered by SGI on behalf of the province. As part of its mandate, the Auto Fund also works toward making Saskatchewan’s roads safer for everyone who uses them.”
“Saskatchewan residents now enjoy, on average, the lowest overall personal vehicle insurance rates in Canada,” Minister Responsible for SGI Joe Hargrave said in a news release. “Our government and the Auto Fund remain committed to a continued focus on traffic safety, and a number of initiatives implemented over the past year will make Saskatchewan’s roads safer for everyone who uses them.” Hargrave also said.
“SGI CANADA is the competitive side of SGI’s operations, selling property and casualty insurance in Saskatchewan, Alberta, Manitoba, Ontario and British Columbia. In 2018-2019, SGI CANADA continued to be in a stable financial position, which was the result of progress on long-term goals of growth and geographic diversification.
“I’m very proud of how this Saskatchewan-based company continues to earn profits and achieve growth in an industry where it competes with many national and international insurers,” Hargrave said.
Some highlights from the Auto Fund included $894.9-million in claims, $149.1-million in discounts to customers through the Safe Driver Recognition (SDR) and Business Recognition programs and $26.2-million in net store claims.
Highlights from SGI CANADA’s latest reported included, a $48-million profit with a return on equity of 9.8 percent pre-tax, $39.8-million in storm claims and more than 940,000 customers across Canada.
Hargrave reflected on a highlight for him during the 2018-19 fiscal year, which was the introduction of rideshare legislation. He said work is being done to expand the service.
“We’re still looking as to what we can do in some of those smaller communities of 1,000 people or less because there’s a need there as well,” Hargrave said. “We’re talking, and looking, and seeing what we can do for all of those communties.”
However, Hargrave also addressed the unsafe driving trends in Saskatchewan, including distracted driving, saying operating a phone at a red light is still distracted driving.
“At the red light, I guess the vehicle’s not in park, you’re technically driving because you are there and you’re distracted from focusing on what’s happening with the lights,” Hargrave said. “I think people have to learn that when you’re driving, when you’re in your vehicle and you’re the operator of the vehicle, you cannot operate your phone.”
SGI critic Trent Wotherspoon said it goes to show the importance of crown corporations in Saskatchewan.
“It just blows my mind that the Sask Party government was in conversations and meetings to look to sell it off just a couple of years ago,” Wotherspoon said. “It just defies any level of common sense, a sell off of this crown corporation would be an incredible betrayal of the best interests of Saskatchewan people.”
During the 2018-19 fiscal year, SGI CANADA also launched CyberOne and Data Compromise to protect businesses against cyber attacks and data breaches.