What’s New: In Brief (December 03, 2008)

Manitoba Public Insurance (MPI) has reduced its auto insurance rates by 1% overall, the second rate decrease in three years.
The decrease was spurred by the success of Manitoba’s immobilizer program and record declines in theft numbers.
The Public Utilities Board approved the rate decrease, meaning more than 600,000 vehicles will pay either the same or less when new rates take effect on Mar. 1, 2009, according to an MPI release.
“Manitoba’s unprecedented drop in auto theft is due to the tripartite efforts of Manitoba’s mandatory immobilizer program, Winnipeg Police Service’s Auto Theft Unit and Manitoba Justice,” MPI president and CEO Marilyn McLaren said in the release. “Despite the volatility of the investment market and the uncertain economic climate, we’re pleased that Manitoba Public Insurance is able to provide Manitobans with rate stability.”

The Canadian Securities Administrators (CSA) has extended the period for public commentary on its asset-backed commercial paper (ABCP) securities regulatory proposals until Feb. 16, 2009.
The consultation paper, Securities Regulatory Proposals Stemming from the 2007-08 Credit Market Turmoil and its Effect on the ABCP Market in Canada, outlines securities regulatory proposals related to the Canadian non-bank sponsored asset-backed commercial paper (ABCP) market.
The paper was published in October. At the request of constituents, the deadline for commentary was extended from Dec. 20 to Feb. 16, 2009.