Manitoba Public Insurance (MPI) is set to issue a second rebate cheque to policyholders and ask the Public Utilities Board (PUB) for a reduction in General rates.
The rebate will split $69 million amongst 675,000 policy holders with the average cheque being about $100. Rebates are equal to about 6 per cent of the annual basic Autopac premium.
“As this pandemic progresses, Manitobans continue to be financially impactedby this crisis,” said Crown Services Minister Jeff Wharton. “This second rebate will assist Manitobans as we all work together in getting through this challenging time in our province.”
The rebate is expected to be issued at the end of December or early January but will require approval from the PUB before it is issued.
MPI says it is able to issue a rebate due to about 20 per cent fewer claims from mid-March to the end of October compared to last year.
“This rebate to our customers is combination of fewer claims and our continued focus on fiscal prudence.MPI continues to operate in a high efficient manner, aimed at delivering value to Manitobans. Our financial responsibility is reflected in our daily running of our operations and practices,” said Satvir Jatana, acting CEO and president, Manitoba Public Insurance.
MPI will request an 8.8 per cent reduction in rates from the PUB and if approved it will take effect on April 1, 2021.
© News4.ca 2020
