Auto insurance rate increase approved in Manitoba

WINNIPEG – Drivers in Manitoba are going to be paying more to insure their vehicles.

The Public Utilities Board has approved a 3.4 per cent increase in compulsory premiumseffective March 1.

The board says basic insurance has seen combined losses over the past two fiscal years of more than $132 million.

Manitoba Public Insurance is projecting a loss of more than $82 million for the current financial year.

The increase is the third in 15 years.