Driving your vehicle in Manitoba could get more costly if a proposed insurance rate increase is approved.
Manitoba Public Insurance is seeking a 1.8 percent increase for the 2014-15 insurance year from the Public Utilities Board.
Rates decreased by four percent in 2011, eight percent in 2012, and remained stable in 2013, MPI said.
“A moderate increase in claims experience combined with lower than expected investment income has resulted in a slight increase in Autopac rates for 2014/15,” said MPI president and CEO Marilyn McLaren.
It’s the first time in 10 years MPI has requested a rate increase from the PUB. A decision on whether to approve the request will be made during public hearings in the fall.
— Staff
