Manitoba Public Insurance (MPI) is looking to issue $335-million worth of rebate cheques to customers in 2022. If approved, this will be the second largest rebate in corporate history. In 2011, MPI rebated ratepayers $336-million. In addition, MPI rates will see a 1.2 per cent rate decrease.
“MPI continues to demonstrate strong financial performance, which has resulted in its applying for a third consecutive rate decrease, and in time, applying for a third consecutive customer rebate,” Crown Services Minister Jeff Wharton announced. “The COVID-19 pandemic has been challenging for all Manitobans. I am pleased that Manitoba Public Insurance will once again be in a position to provide its policyholders with much needed financial relief early in the New Year.”
This will be the third rebate cheque since the COVID-19 pandemic. Rebate cheques will be mailed out in the winter of 2022. To date, customers have received a total of $179 million in COVID-19 driven rebates.
Combining the requested 1.2 per cent decrease with the surplus rebate, customers can expect an average decrease in their 2022/23 insurance year Autopac premiums of approximately 26.1 percent.