Saskatchewan brokers concerned about SGI’s proposed 35% reduction in commissions

The Insurance Broker Association of Saskatchewan (IBAS) is concerned about SGI’s proposed 35% reduction in broker commissions for online vehicle renewals.
The public insurer has taken the position that online self-service or payment on any other transaction should result in savings and therefore broker commissions should be reduced.
“SGI is determined to find savings in the distribution system, even though we have shown that any cost savings in broker offices would be minimal or non-existent,” IBAS president Darryl McKay reported to delegates attending the Insurance Brokers Association of B.C. (IBABC)’s 62nd Annual Conference & Trade Show on June 17.