WINNIPEG – Manitoba’s Public Utilities Board has approved a smaller-than-requested increase in auto insurance rates and issued a warning to the government agency that has a monopoly.
The board has approved an overall rate increase of 0.9 per cent for Manitoba Public Insurance for next year, effective March 1.
That’s half as much as MPI requested.
The board said it has “significant concerns” about MPI’s operating expenses, and asked for a detailed review of staffing levels and other information by the end of next year. The board stated MPI “must control its expenses.”
“The board also directs MPI to provide a review of road safety expenditures to maximize the value to ratepayers,” it said in an emailed statement Monday.
“We always know there is more that can be done to make MPI more efficient,” said Andrew Swan, the minister responsible for MPI. “I will be expecting MPI to move forward on that.”
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He said he will be leaving it up to the Crown corporation to find savings.
“I am not going to speculate on the best way for MPI to continue to become more effective,” said Swan, adding he plans to meet with MPI early in the new year.
While the overall rate is climbing by 0.9 per cent, the board said the amount varies between categories.
The board said 43 per cent of vehicles will see lower insurance rates.
With files from the Canadian Press
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