Rate review panel calls for decrease in auto rates

Some potential good news for Saskatchewan drivers on Wednesday

The Saskatchewan Rate Review Panel is recommending the provincial government decrease auto insurance rates by 1.3 percent.

Another recommendation sees a proposed 15 percent cap for base premiums greater than $1,000 be reduced to 10 percent and that a scaled cap with reductions ranging from $25 to $100 dollars be put in place for base premiums uo to $1,000.

SGI had proposed a revenue neutral rate change, but a decision was made to adopt these recommendations after a review of the application, input from the public and new financial numbers.

Cabinet must now approve the recommendation from the panel for the decrease to take place.

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