Manitoba’s regulator mandates a drop in the cost of auto insurance.
Drop Taxi :The Cost Of Auto Insurance Rates By 5% Now.
The Public Utilities Board (PUB) of Manitoba has mandated that Manitoba Public Insurance (MPI) lower mandatory auto insurance rates by 5% for the 2024–2025 insurance year.
PUB also denied MPI’s request for approval of the Capital Management Plan and the Vehicles for Hire (VFH) in a decision released on Monday, December 18, 2023.
“The Board denied MPI’s request to approve the Capital Management Plan,” the PUB ruling stated.
(CMP), concluding that there is a chance that Extension excess reserves won’t be utilized as intended by the CMP unless a strategy is in place to alleviate the Driver and Vehicle Administration (DVA) funding shortfall. PUB issued this information in a media release.
Drop MMS:
The statement continued, “MPI deferred a request for approval of the rates to be applied in favor of the Board approving a Blanket Policy insurance framework for VFH.
Uber was unwilling to provide the Board or the Interveners with its kilometer data, so it was impossible to analyze the rates.
The Board is not ready to approve the Blanket Policy framework until it has proof of every aspect of the proposed policy, including the rates and the formula for determining them.
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