FAQ

Why isn’t every Saskatchewan hometown subscribing to SUMAssure?

Since January 2020, SUMAssure is owned by more than half of Saskatchewan’s hometowns. In the past 10 years SUMAssure has become the preferred risk management solution for municipalities. Every year, new subscribers have joined and growth has been constant.

Shouldn’t our municipality support our local broker?

When you join SUMAssure, you become a part owner. It doesn’t get more local than that.

What happens if there is a major catastrophe? Will there be a “cash call” on subscribers?

No, SUMAssure purchases excess insurance over and above the group’s self-insured loss retention (essentially a group deductible). Therefore, any insurance claim over the collective retention pool is transferred to an excess insurance provider.

This structure allows SUMAssure to transfer catastrophic losses to excess insurers while retaining premiums within the program. This structure not only works in theory but has proven itself in reality. Approximately 80 percent of SUMAssure’s losses were transferred to excess carriers while 50 percent of the premiums remained in the program. This builds even more equity for SUMAssure members.

Will it be difficult to switch insurance providers?

Not at all! Switching to SUMAssure is quick and simple. Contact one of the SUMAssure representatives and we’ll help you every step of the way.