this post was submitted on 05 Jul 2024
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This is the best summary I could come up with:
Manitoba Public Insurance is requesting permission for a three-per-cent rate hike for 2025-26 fiscal year after the Crown corporation reported a $130-million loss it blamed on ballooning expenses as well as a hailstorm last summer.
MPI said the rate hike is required in order to bolster its revenues following an operating loss of $130 million for the 2023-24 fiscal year.
Katrine Dilay, a lawyer with the Public Interest Law Centre, said MPI's requested rate hike is akin to a four-per-cent hike when you factor in a $10 increase in the base driver premium the Crown corporation is also requesting in its rate application to the Public Utilities Board.
She also expressed concerns about the continuing cost of Project Nova, MPI's troubled digital transformation, and a proposal to hire 374 more staff, which she described as "a big number" of new people.
The Public Utilities Board is expected to consider MPI's rate application at a hearing in October and make a decision in December.
MPI CEO Satvir Jatana said in March she expected the corporation to issue another rebate cheque this year.
The original article contains 400 words, the summary contains 173 words. Saved 57%. I'm a bot and I'm open source!