Refund from Surplus Questions and Answers


Why did I receive this refund cheque?
You had an active policy(ies) with HTM on December 31st. The company declared a refund due to the extraordinarily good financial year in 2021. This is the company’s way of sharing some of that good fortune with you, the policyholders; besides, it is you the policyholder that caused the company to have a good year!

Which policies does the refund apply to?
We gave a refund on every active policy as at December 31st; farm, commercial, residential and automobile.

Can I change the name on the refund cheque?
We issued the cheque in the name on the policy(ies). In the case of multiple personal policies (residential/auto), where there were two names on one policy and one name on another (as an example), we issued the full refund on one cheque in both names. In some limited circumstances, we can re-issue the cheque in a different name. In most cases, we will ask you to modify the name on your policy through your agent or broker before we will change the name and reissue the cheque.  

Is the refund taxable?
While the refund cheque is not taxable (ie. we do not issue any T4 or similar government slip), if the refund is on a commercial or farm policy, where the original premium is expensed for tax purposes, then the refund would be a reduction in that expense. Ask your accountant or tax advisor.  

My refund included several policies and I need to know how much of the refund applied to an individual policy. How do I find that out?
Send the policy number along with your contact information by email to accounting[at] We have an excel file designed to help us determine the refund amount for an individual policy. This process, depending on the number of transactions for the policy(ies), can take 5 or 10 minutes to calculate. That’s why email is best instead of a phone call.  

What’s the best way to handle a problem with my cheque?
We issued over 17,000 cheques and we expect the majority of inquiries to occur in the first few weeks of sending them out. Even if only 5% of people have a question, that’s over 800 enquiries. The best way to start an inquiry (and this will help our staff in the accounting department) is to send us an email at accounting[at] Provide us with your name, contact information, policy number and describe the issue. Each enquiry will take some time, so having an email with the information we need, will allow us to look at the situation and prepare an appropriate response.