The Dominion Issues Rebates in Nova Scotia
The Dominion Issues Rebates in Nova Scotia
The Dominion Of Canada General Insurance Company Quick To Issue Auto Insurance Rebates In Nova Scotia
October 31, 2003
"Refund cheques will be issued to all eligible Nova Scotia automobile insurance policyholders with The Dominion of Canada General Insurance Company within the next two weeks", said George Cooke, President and Chief Executive Officer of the Company.
Amendments to the Nova Scotia Insurance Act (Bill 1), which were proclaimed on Thursday by the government, require insurers to refund 20% of the remaining premium accumulated from November 1 to the expiry date of the policy. Those on monthly installments will have credit applied to future payments. For example, if a policyholder renewed on July 1, 2003, then the rebate cheque will be for 20% of the premium due for the period November 1, 2003 to June 30, 2004.
"Although Bill 1 allows the industry until December 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, " Mr. Cooke said in explaining his Company's swift response to the new requirement.
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