Sat. Feb 24th, 2024

A 5% drop for premiums car insurance expected in Manitoba

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MPI has been at the heart of many controversies in recent years. (Archive photo)


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Manitoba drivers will soon pay less for their auto insurance premiums, following a decision by the Public Utilities Board.

The Society of ;Manitoba Public Insurance (MPI) had called for a freeze on insurance rates while the Progressive Conservative government was in power.

The Public Services Board has, however, decided to impose a 5% cut on car insurance premiums from April 1, 2024, saying it expects claims costs to be lower than MPI had planned in the coming years.

She also strongly criticized the fact that MPI went beyond its budget for the Nova project which aimed to modernize the services of the state corporation.

According to the latest estimates, the Nova project could cost $290 million, three times more than the amount initially planned.

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The Public Services Board expresses its concern about the possibility that the cost of this project will increase again.

The board does not have confidence in the budget that MPI set for the Nova project, based on the history of this project. We are concerned about the possibility that the cost of this project will exceed $290 million, reads the decision of the Public Services Board published Monday.

MPI which has a monopoly on basic auto insurance policies in Manitoba has been at the center of much controversy in recent years.

Earlier this year, the Progressive Conservative government requested an external review of the management of activities within the Crown corporation.

Last May, the general director of MPI was dismissed from his position after revelations indicating that the Crown corporation had spent thousands of dollars in reimbursement costs for travel made by an executive who lived in Toronto

During the summer, a strike was called by MPI employees.

The NDP government made changes to MPI's board of directors shortly after coming to power last October and concluded a four-year contract with the Crown corporation's employees.

MPI welcomed the decision of the Public Services Board on Monday, indicating that this drop in insurance premiums will be a relief for their customers who deal with the increase in the cost of living.

With information from The Canadian Press

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