MPI Forced to Issue 45% Insurance Rebates

Manitoba motorists are in for a hefty rebate on their insurance premiums.

The Public Utilities Board ordered Manitoba Public Insurance to pay back 45% of premiums paid in the 2009-10 insurance year on Thursday.

Policyholders can expect to get the larger than usual refund because they were overcharged in the first place.

MPI argued against the large rebate, and only wanted to return 10%, but was denied.

The public insurer must issue refund cheques by May 31.

The total cost of the rebate is about $320 million.