Government-run auto insurance

Government-run auto insurance is often referred to as “driver-owned” auto insurance. A truly “driver-owned” auto insurance company would sell shares, have open elections for its board of directors and have annual general meetings. This does not happen with the existing “driver-owned” auto insurance systems in BC, Manitoba and Saskatchewan.

Truly “driver-owned” auto insurance companies already exist within the private sector. Mutual insurance companies are owned by their policyholders. If, at the end of a fiscal year, the mutual insurance company has a profit, the profit is shared among the policyholders. Conversely, if a mutual insurance company suffers a loss, there are provisions for all policyholders to be assessed a levy to make up for this shortfall.