Government of Manitoba announces 5% auto insurance rate reduction

Weeks after settling a strike with a fair deal for Manitoba Public Insurance (MPI) workers and ratepayers, Manitobans can expect more affordable auto insurance following a ruling this morning by the Public Utilities Board (PUB), Justice Minister Matt Wiebe, minister responsible for MPI, announced today.

“Today’s announcement is a win for Manitobans trying to make ends meet,” said Wiebe. “This is one of the toughest economies we’ve seen in recent memory. People are feeling the pressure, particularly through the holiday season, and our government is pleased to see the board take steps toward making life more affordable for families.”

The PUB ordered a five per cent decrease to the rates for compulsory auto insurance premiums in 2024-25, which will take effect April 1, 2024.

Wiebe echoed the PUB’s concerns related to the overall costs of Project Nova, which is estimated to cost more than $290 million.

“Under the previous government, we saw serious issues at MPI related to Project Nova,” said Wiebe. “We are trying to protect ratepayers from paying the price for their mismanagement. Our government and the new board at MPI will always fight to keep rates as low as possible so people can keep more money in their pockets.”

The PUB’s notice of decision is available at http://pubmanitoba.ca/v1/contact-us/media/pubs/2021-2025-nr/nr-mpi-2024-rates.pdf.