All COVID-19 rebate cheques ─ 675,000 in total ─ are now in the mail, MPI announced today, January 19, 2021.
This rebate was made possible by the combination of fewer collision claims, about 20 percent lower from mid-March to the end of October compared to the previous year and MPI’s forecast of collision frequency remaining favourable into the spring.
Rebates were based on what policyholders paid during this period and is estimated to be about six percent of their annual Basic Autopac premium. For rebates less than $10, no cheque will be issued; the customer’s account will automatically be credited.
In total, $69 million will be returned to Manitobans.
MPI posted an update about rebate checks yesterday, January 4 on their Facebook page stating:
Your cheque is (literally) in the mail!
Over the holidays, our teams worked hard to get rebate cheques to eligible policyholders in the mail and on their way to you – and will continue to do so over the next few weeks.
Please allow up to four weeks to allow Canada Post ample time to deliver all cheques. If you have not received your cheque in four weeks, please contact your Autopac agent or call our MPI Contact Centre at 204-985-7000 or 1-800-665-2410.
Learn more: https://www.mpi.mb.ca/Pages/COVID-19-rebate-faqs.aspx
The following was posted on November 30:
For the second time this year, Manitoba Public Insurance (MPI) will be providing immediate financial relief to its policyholders. MPI customers will receive a total of $69 million, which is about $100 per policyholder. This is in addition to the previous rebate of $110 million in May of this year.
Policyholders can expect a rebate cheque at the end of December or early January. It is estimated that about 675,000 cheques will be issued.
This second rebate was made possible by the combination of fewer collision claims, about 20 per cent lower from mid-March to the end of October compared to the previous year and MPI’s forecast of collision frequency remaining favorable into the spring. Rebates will be based on what policyholders paid during this period and is expected to be about six per cent of their annual Basic Autopac premium.
This second rebate should not have an adverse effect on MPI’s financial outcomes moving forward and request for an overall -8.8 per cent rate decrease application to the PUB. If approved, customers will pay, on average, about $110 less in premium. The new rates will take effect April 1, 2021.
Under existing legislation, this rebate requires the approval of the PUB. MPI will apply to the PUB in the coming days.
Details of the second rebate will be made in the coming weeks and further details will be available at www.mpi.mb.ca/Pages/Home.aspx.