SGI says it will pass on roughly $350 million in earnings to the people of Saskatchewan by issuing one-time rebates to all registered vehicle owners, and also improving injury benefits for its most seriously injured customers.

Minister Responsible for SGI Don Morgan says, “The Saskatchewan Auto Fund Rate Stabilization Reserve is in a very strong financial position due to very strong investment returns and – to a smaller degree – fewer collision claims due to the COVID-19 pandemic,”

The provincial government has approved the one-time rebate of $285 million. The amount each customer receives will vary, and it will be calculated based on a proportion of vehicle premiums paid in the previous three years. It’s expected the average rebate will work out to about $285 per vehicle.

Rebate cheques will be issued in May and sent through the mail to customers who have paid Auto Fund premiums in the past three years and are residents of Saskatchewan.

In terms of long-term injury benefits as a result of being injured in vehicle collisions, customers who require assistance with daily tasks will see the maximum payments for those services increase to better reflect current market rates. SGI customers who receive income replacement benefits from SGI and Canada Pension Plan will no longer have income benefits from SGI reduced by their CPP payment. The Crown Corporation says it is standard industry practice to reduce insurance benefits by the CPP payment. SGI says it is leading the industry by eliminating this practice.