Dominion begins paying 20% premium cut to Nova Scotia drivers

The Dominion of Canada General Insurance Co. will issue premium refund cheques to Nova Scotia auto policyholders over the coming two weeks, a statement says. The refunds relate to the recent passing of the province’s Bill-1 auto insurance legislation which requires insurers to drop rates by 20% subject to a price freeze until November 2004. The legislation also calls on insurers to provide refunds on premiums collected from the beginning of November this year. Although Bill-1 allows the industry [insurers] until January 31 to process these rebates, The Dominion considers it a priority to put the money in the hands of its policyholders at the earliest opportunity,” says president George Cooke.