FAQ

Why isn’t every urban municipality subscribing to SUMAssure?

Great question! Only SUMAssure can offer the benefits of ownership to urban municipalities and there is a reason why we continue to grow year after year. There is no reason why all of Saskatchewan urban municipalities can’t join SUMAssure!

Shouldn’t our municipality support our local broker?

SUMAssure IS the local broker. Since we are owned and governed by our subscribers, it is impossible to be more local than SUMAssure.

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). Anything over and above that 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.