Hey there, time traveller!
This article was published 18/3/2011 (3678 days ago), so information in it may no longer be current.
WINNIPEG — Manitoba drivers are set to get even more money back from Manitoba Public Insurance.
The public insurer said today it's found $250 million in its coffers, because of reduced personal injury claims, that should be returned to ratepayers.
Justice Minister Andrew Swan, who is responsible for MPI, said the Public Utilities Board will decides how the money is returned, either through a rebate or reduced premiums or a mixture of both.
Late last year, the PUB approved a $71.5 million rebate — or 10 per cent — on the Autopac premiums Manitoba vehicle owners paid in 2009-2010.
It also approved a four per cent overall reduction in Autopac premiums for 2011.
The rebate to vehicle owners is less than MPI requested in its application. MPI had recommended a rebate of 12.9 per cent.
The PUB said it may alter its rebate order before the payments go out in spring, based on further information it has requested from MPI.
MPI CEO Marilyn McLaren said in a release today MPI will finish its fiscal year in a strong financial position.
"This strong financial result is more evidence of the benefits of public auto insurance," Swan added. "Whenever the program has more income than it needs, the Public Utilities Board is asked to authorize rebates to ratepayers."