MPI policyholders receiving another round of rebate cheques
WINNIPEG -- Manitoba Public Insurance (MPI) customers will be getting another rebate cheque in the mail soon.
Announced by Crown Services Minister Jeff Wharton during a news conference Monday morning, every policyholder will receive approximately $100.
The cheques are set to arrive after Christmas and into January.
Altogether, MPI estimates it will send 675,000 cheques worth around $69 million.
The Minister cited 20 per cent fewer collisions from March to October than last year and MPI's forecast of collision frequency remaining favourable into the spring as reasons why the insurance company is issuing the rebate.
"There are less vehicles on the road, less motor vehicle accidents and certainly the corporation has done a wonderful job managing the corporation," said Wharton
The rebates will be based on what policyholders paid during this period and is expected to be about six per cent of their annual Basic Autopac premium.
This is the second round of rebate cheques issued this year. The Crown corporation gave another round of rebate cheques worth $110 million back in May, with each policyholder receiving between $140 and $160.
When the first cheques were issued, some customers did not receive their cheques and others were issued the wrong amount. This time, though, there won't be any problems, according to the minister.
"Certainly, there were other factors last time," Wharton said, "There were two cheques that had to be cut, this time there's one cheque, and we don't anticipate any issues at this point."
MPI said the rebate cheques would not impact the company's financial situation.
In addition to the rebates, the Public Utilities Board is also deciding on a proposed average rate decrease of 8.8 per cent.