Why auto insurance may get cheaper in Sask.
Vehicle owners in Saskatchewan could soon see some relief on their insurance bills.
The Saskatchewan Rate Review Panel has recommended the provincial government approve a decrease in rates, according to a news release.
This will lead to an overall estimated reduction of 1.3 per cent, although individual customer rates will vary depending on several factors including vehicle classes.
The panel had originally proposed a revenue neutral rate change but revised its recommendations after reviewing the application and public input and receiving updated financial information.
The panel also recommended that the proposed 15 per cent cap for base premiums greater than $1,000 be reduced to 10 per cent and that a scaled cap with reductions ranging from $25-$100 be implemented for base premiums up to $1,000.
Those moves are slated to be paid for out of the Rate Stabilization Reserve. The reserve is held on behalf of Saskatchewan’s motoring public and is intended to protect motorists from rate increases made necessary by unexpected events and losses arising from catastrophic events.
This year SGI paid out $285 million in one-time rebates to customers, saying reserve had more money than it needed.
A final decision on the changes will be made by Cabinet.
The Saskatchewan Rate Review Panel advises the Government of Saskatchewan on rate applications proposed by SaskEnergy, SaskPower and the SGI Auto Fund.
CTVNews.ca Top Stories
Former homicide detective explains how police will investigate shooting outside Drake's Bridle Path mansion
Footage from dozens of security cameras in the area of Drake’s Bridle Path mansion could be the key to identifying the suspect responsible for shooting and seriously injuring a security guard outside the rapper’s sprawling home early Tuesday morning, a former Toronto homicide detective says.
Federal government grants B.C.'s request to recriminalize hard drugs in public spaces
The federal government is granting British Columbia's request to recriminalize hard drugs in public spaces, nearly two weeks after the province asked to end its pilot project early over concerns of public drug use.
Testifying in hush money trial, adult film actor Stormy Daniels describes first meeting Trump
Stormy Daniels took the witness stand Tuesday at Donald Trump's hush money trial, describing for jurors a sexual encounter the porn actor says she had in 2006 that resulted in her being paid off to keep silent during the presidential election 10 years later.
MPs agree Canadian gov't should improve new disability benefit
The federal government needs to safeguard the incoming Canada Disability Benefit from clawbacks and do more to ensure it actually meets the stated aim of lifting people living with disabilities out of poverty, MPs from all parties agree.
King Charles too busy to see son Prince Harry during U.K. trip
Prince Harry will not be seeing his father King Charles during his current visit to Britain as the monarch will be too busy, Harry's spokesperson said on Tuesday.
Boy Scouts of America changing name for first time in 114 years, aiming for inclusivity
The Boy Scouts of America is changing its name for the first time in its 114-year history and will become Scouting America. It's a significant shift as the organization emerges from bankruptcy following a flood of sexual abuse claims and seeks to focus on inclusion.
opinion Tom Mulcair: Trudeau's handling of Poilievre's 'wacko' House turfing a clear sign of Liberal desperation
When Speaker Greg Fergus tossed out Pierre Poilievre from the House last week, "those of us who have experience as parliamentarians simply couldn't believe our eyes," writes former NDP leader Tom Mulcair in his column for CTVNews.ca
Security guard shot, seriously injured outside of Drake's Toronto mansion
A security guard working at Drake’s Bridle Path mansion in Toronto was seriously injured in a shooting outside the residence early Tuesday morning, police said.
Katy Perry's mom was fooled by AI images of the singer at the Met Gala
Katy Perry did not attend the Met Gala on Monday, but some of the singer’s fans – and even her mom – thought she did.