MUNIX reciprocates: $1.5 M returned to municipal subscribers through premium reduction
AUMA’s CEO Dan Rude announced today that there was a $1.5 million rebate to the MUNIX pool that took place in the form of a reduction in insurance premiums for 2019. The announcement was made at the 2019 MUNIX Annual General Meeting currently underway at the Fantasyland Hotel in Edmonton.
“The pool has enjoyed great success over the last two years, which has allowed us to reduce the cost of premiums to our subscribers,” says Rude. “This is the power of the pool. AUMA members who are not subscribers of MUNIX would have been exposed to the global hardening market and likely experienced significantly increased insurance premiums like everyone else.”
Premiums across Canada have increased by between 15 to 40 per cent this year. AUMA uses the power of your insurance pool to shield you from market shocks like these.
MUNIX, AUMA’s reciprocal insurance exchange, was formed in 2002 to serve the insurance needs of its members. Created at a time when insurers had abandoned municipalities and associated non-profits, MUNIX is owned by you—the subscribers.
If you have any questions about MUNIX, please contact us via e-mail at insurance [at] auma.ca (insurance[at]auma[dot]ca) or call us at 310-AUMA(2869).
