MPI said that this is the 11th year in 12 that the provincial insurer has held the line on basic Autopac rates, as approved by the Public Utilities Board.

The approved rate application ─  which was filed with the Utilities Board last June ─  results in over 330,000 passenger vehicle owners paying less for Basic Autopac next year. The average passenger vehicle premium will fall by $2 to $886.

Of the 45 per cent of Manitobans who will pay more, most will face increases of less than $20.  Because of staggered renewal dates, some vehicle owners will not pay the new rates until February 2011.

The Utilities Board also ruled that the public auto insurers’ Rate Stabilization Reserve for basic insurance should be within a target range of $77-$154 million. This range is reflective of 10 per cent to 20 per cent of written premiums, stated the ruling.