February 16, 2007 by Canadian Underwriter
According to the Saskatchewan radio station News Talk 650, Saskatchewan Government Insurance (SGI) disagrees with a recent study by the Fraser Institute.
The study claims that drivers in British Columbia, Ontario, Saskatchewan and Manitoba pay more for auto insurance on average than drivers in other provinces.
However, SGI establishes its findings by comparing similar vehicles driven between provinces, something the Fraser Institute does not consider in its studies.
The Minister responsible for SGI, Glenn Hagel recently said. “[o]ver half a million Saskatchewan vehicle owners will earn an almost 17 per cent rebate on the insurance premiums they paid for 2006 coverage.”
The study estimates the average cost of personal passenger auto insurance premiums in all 10 provinces for 2004 and 2005 using publicly available data.
In a straight dollar comparison of the average cost of auto insurance premiums, three of the four most expensive provinces were those with government-run auto insurance monopolies: BC, Saskatchewan and Manitoba, said Brett Skinner, the Institutes Director of Health, Pharmaceutical and Insurance Policy.
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