Autopac holds the line on premiums

Hey there, time traveller!
This article was published 20/06/2019 (2271 days ago), so information in it may no longer be current.

Manitoba drivers are looking at virtually no increase in overall insurance premiums this year.

Manitoba Public Insurance is seeking a 0.1 per cent increase in overall insurance premiums, in its annual rate application which was filed to the Public Utilities Board Thursday.

MPI says in the application that it won’t be the last time.

“MPI, under the guidance of its board of directors, and with the assistance of the PUB, has made good on its promise two years ago to return this year and next with rate indications at or near zero per cent,” the application says.

MPI says the good news was driven by  motorists.

“Actual collision claims costs in 2018/19 were $39.9 million, or 9.1 per cent under budget, which resulted in MPI reducing the 2020/21 rate indication by over two per cent,” the application says.

MPI is asking permission to discontinue the anti-theft discount for newly insured vehicles and to lengthen the rate year next year from 12 months to 13 months so that MPI’s fiscal year-end can be March 31, like other provincial Crowns. Currently, it’s the end of February.

Because of the blackout on government news releases in the 90 days before an election, MPI was unable to send out a news release announcing the rate application. Instead, the information from MPI was posted on the PUB website.

kevin.rollason@freepress.mb.ca