The Government of Saskatchewan says a recent decision by the Rate Review Panel balances the financial health of SGI with affordability concerns for drivers. The 3.75 per cent rate increase was implemented on an interim basis on June 1. In late July, the Saskatchewan Rate Review Panel issued its decision on the province’s proposed two-year rate increase program, recommending a 3.75 per cent rate increase for 2026 but not the same increase for 2027 – arguing that decision should be made in the usual fashion next year when it will be supported by a financial forecast and other data. Minister Responsible for SGI Jeremy Harrison spoke to reporters in Saskatoon on Friday, responding to the decision. The minister highlighted the fiscal pressures currently being felt by the insurer thanks to a record setting year in damage claims. “The panel’s recommendations recognize that claim costs and inflation are putting significant financial pressure on the Rate Stabilization Reserve and overall Auto Fund sustainability,” Harrison said. “Our government’s response balances those financial realities with our commitment to affordability for Saskatchewan drivers.” The rate hike amounts to about $38 annually or $3 per month for drivers, depending on the make, model and year of their vehicle. More to come…
