Rather than the originally requested 0.1 per cent increase, MPI is now asking the Public Utilities Board for a 0.6 per cent decrease.
It says the move would save the average passenger vehicle owner $10 a year in premiums.
MPI says it has had a better-than-budgeted first half of the year, due to a reduction in operating costs and improvements to its claims management process.
The Crown corporation says it’s also achieved its 100 per cent Minimum Capital Test target — meaning there’s enough reserve funds to protect against rate shock.
The amendment was filed Oct. 4 and the board is expected to respond in December.
If approved, the rates would take effect March 1, 2020.