MPI releases Annual Report
Manitoba Public Insurance released its 2009 annual report.
MPI reported income from annual operations of $86.9 million. Investment income of $96.3 million helped reduce the cost of the average Basic Autopac premium by $103. The Basic plan also surpassed its goals by providing claimants with 86 cents in benefits for every $1 in premium – significantly better than the national average – and Basic’s operating costs are 53 per cent of the Canadian industry average.
Manitoba Public Insurance said it realized these achievements without sacrificing customer service. In 2010, the company met or exceeded corporate-wide customer service standards 96 per cent of the time.
Last year, Manitobans filed an average of 1,079 claims every working day. This represents about $2.3 million in claims every working day.
MPI also released the following dollar amounts:
Total Autopac claims costs for injury and property damage, respectively (before expenses): $189.5 million and $384.2 million
Amounts paid by Manitoba Public Insurance to Manitoba medical practitioners on behalf of customers: $23.8 million
Commissions paid by Manitoba Public Insurance to independent insurance brokers for product sales: $74.1 million
Grants-in-lieu of taxes paid to Manitoba municipalities by Manitoba Public Insurance: $1.4 million
Provincial premium taxes paid by Manitoba Public Insurance: $27.5 million
Estimated savings to policyholders through use of recycled parts: $15.6 million
Estimated direct savings to policyholders through subrogation: $14.0 million
Dollars invested in road safety programs: $24.9 million
To see the full report, see this PDF.
