Saskatchewan Government Insurance
 |
|
| Crown corporation | |
| Industry | Insurance, driver licensing, motor vehicle registration |
| Founded | 1945 |
| Headquarters |
C.M. Fines Building Regina, Saskatchewan |
|
Key people
|
Honourable Don McMorris, Minister Responsible for SGI |
|
Number of employees
|
1,700 |
| Website | www.sgi.sk.ca |
Honourable Don McMorris, Minister Responsible for SGI
Saskatchewan Government Insurance (SGI) was created in 1945 and is a provincial Crown corporation that has been developed over the years into two linked operations.
The Saskatchewan Auto Fund is the province's compulsory public auto insurance program, operating the driver's licensing and vehicle registration system. The Auto Fund is financially self-sustaining, operating on a break-even basis over time. The Saskatchewan Auto Fund does not receive money from or pay dividends to the government.
SGI CANADA sells property and casualty insurance on properties such as homes, farms, businesses and automobile insurance in five Canadian provinces. It operates as SGI CANADA in Saskatchewan, SGI CANADA Insurance Services Ltd. in Manitoba, Alberta, British Columbia and the Coachman Insurance Company in Ontario.
SGI was created by the first avowedly socialist government in North America elected in 1944, the Co-operative Commonwealth Federation (later renamed New Democratic Party). Under Premier Tommy Douglas, the government began to involve itself in many sectors of the economy, including insurance. The rationale was put forth that Saskatchewan residents were being taken advantage of by companies owned outside the province who set rates too high. Also, at least 90 per cent of the insurance in the province was written by companies established in Eastern Canada. Thus the institution of a publicly owned insurance company was justified by the government on both philosophical and economic grounds.
Working out of the Saskatchewan Legislative Building, Michael Allore, the first president, sold the first policy – Fire Policy Number 1 – to Minister O. W. Valleau on May 1, 1945 and appointed its first broker, Oscar Sawby of Maple Creek, on May 17. By the end of 1945, SGI had 60 employees and a small network of private, independent insurance brokers located across the province selling insurance on behalf of the corporation.
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Wikipedia