MPI not seeking auto-insurance rate hike

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This article was published 10/10/2023 (1055 days ago), so information in it may no longer be current.

Manitoba drivers won’t have to pay more to insure their vehicles this year if Manitoba Public Insurance gets its way.

MPI has told the Public Utilities Board it isn’t asking for any overall revenue or rate change for its basic insurance program this year.

MPI says while there would be no overall rate change, individual insurance rates will vary depending on the type of vehicle a person owns, its use, rating territory and driving record.

In a statement, interim MPI president and CEO Marnie Kacher said the rate application shows “the positive overall financial position of the corporation.

“MPI continues to focus on fiscal prudence for the year ahead, while providing Manitobans with affordable products and services to meet their needs,” she said.

MPI believes the PUB will issue its order in December, with approved rates taking effect April 1, 2024.

The MPI statement does not mention anything about the current strike, which has seen about 1,700 MPI workers off the job since Aug. 28 seeking higher wage increases than have been offered.

According to Kyle Ross, president of the Manitoba Government and General Employees’ Union, “There is no automatic correlation between wages and premium rates.

“MPI is a financially sound corporation that can afford fair wages for its employees. As well, MPI needs fair wages to compete with the other insurance companies in town for skilled employees. And as Manitobans, we are fortunate to have the second-lowest auto premium rates in the country.”