Flush with cash, Saskatchewan Government Insurance is spreading the wealth to its customers with rebates and proposed rate reductions. The government insurance agency says because its Auto Fund — the auto insurance side of SGI — has close to $200 million in its rate stabilization reserves, it will be giving back $100 million as rebates on last year's premiums. For the average motorist, that means getting a cheque for about $180, equivalent to a 17 per cent reduction from what they paid in 2006.
So when was the last time your private insurance company gave you a rebate because they made too much profit?
2 comments:
Insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
Great work.
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