Manitoba Public Insurance seeks 2% rate hike for 2027
Manitoba Public Insurance seeks a 2% rate increase for 2027, subject to Public Utilities Board approval.
Manitoba Public Insurance has asked the province's Public Utilities Board to raise its rates starting next April.
Recent extreme weather did not impact request, public auto insurer says
· Posted: Jun 24, 2026 6:13 PM EDT | Last Updated: June 24
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The Crown insurance corporation is seeking approval for a 2.38 per cent increase to the overall rates of its universal compulsory automobile insurance for the 2027-28 fiscal year. (Jaison Empson/CBC)Manitoba Public Insurance has asked the province's Public Utilities Board to raise its rates starting next April.
The Crown insurance corporation is seeking approval for a 2.38 per cent increase to the overall rates of its universal compulsory automobile insurance for the 2027-28 fiscal year, MPI said in a news release Wednesday.
It says the rate request is based on factors such as the forecast cost of claims, the corporation's operating costs and investment income.
A recent increase in claims due to extreme weather events did not have an impact on the rate request, the public auto insurer says. Insurance companies have their own insurance, called reinsurance, which covers costs to a certain threshold.
An isolated event such as the storm that hit Winnipeg on June 9 would only affect the rate if those reserves fell below predetermined thresholds and MPI could not expect to build them back up within "a reasonable time."
Manitoba Public Insurance wants 2% rate hike for 2026
The board has rejected MPI's rate hike requests over the last couple years.
The corporation previously asked the utilities board for a 2.07 per cent rate hike for the 2026-27 fiscal year. The board rejected that and approved a 1.77 per cent increase to align with forecast interest rates and claims costs.
The board also rejected the corporation's request for a three per cent increase for the 2025-26 fiscal year, instead ordering a 5.7 per cent rate hike to avoid "much higher" rates in future years.