MPI’s basic rate adjustment application remains flat

Manitoba Public Insurance (MPI) is requesting no overall increase in its basic Autopac rates beginning Mar. 1, 2010.
If the Public Utilities Board approves MPI’s rates proposed for 2010, the average passenger vehicle premium will fall by $2 to Cdn$886, an MPI release says.
A breakdown of the average applied rate changes are as follows:
•    Private passenger, -0.2%
•    Commercial, 0.6%
•    Public, 2.5%
•    Motorcycles, 5.7%
•    Trailers, 3.8%
•    Off-road vehicles, -16.7%
•    Overall (applied for), 0.0%
Moped and motor scooter owners will experience a 25% increase, since claims costs attributed to these vehicles have been significantly greater than the average applied-for premium of Cdn$194, the release adds.
The insurer cites its auto theft prevention strategy, launched in 2005, as a driver in maintaining its auto rates.
Total theft has decreased 62.4% since 2004, with auto theft in the province dropping 41% last fiscal year, the release says.
“The number of vehicles stolen in Manitoba has fallen for 31 of 32 months,” said Marilyn McLaren, MPI’s president and CEO. “This resulting drop has saved the corporation Cdn$58 million in theft claims costs since 2005 and has directly resulted in a 3.6% reduction in Autopac rates over the last three years.”