MPI sending motorists average $100 rebate
Manitoba Public Insurance policyholders can expect to receive an average rebate of $100 by early in the new year, Crown Services Minister Jeff Wharton announced this morning.
About 675,000 cheques are to be issued in late December or early January. In all, $69 million is expected to be paid out.
The payment, which is being advocated by both the Pallister government and MPI, must be approved by the Public Utilities Board of Manitoba, the minister said. MPI will apply to the PUB for approval in the coming days.
If it goes ahead, it will be the second Autopac rebate to customers in less than a year. In May, the corporation paid out $110 million in rebates, an average of $145 per policyholder.
"As this pandemic progresses, Manitobans continue to be financially impacted by this crisis, Wharton said. "This second rebate will assist Manitobans as we all work together in getting through this challenging time."
The second rebate was made possible by a combination of fewer collision claims from mid-March to the end of October compared with the previous year.
Rebates will be based on what policyholders paid during this period — roughly six per cent of their annual basis Autopac premium.
MPI has also applied for an 8.8 per cent overall rate decrease in basic auto insurance rates for next year. If approved, customers would pay, on average, about $110 less in premiums. The new rates take effect April 1.
The PUB is expected to rule on MPI's 2021 rate application in early December.