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MPI, rate-setting lashed

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51 Re: MPI, rate-setting lashed on Tue Apr 05, 2011 10:55 am

sputnik


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Does anyone know which months the rebate applies to?

All I have read is that it is for "09/10".

52 Re: MPI, rate-setting lashed on Tue Apr 05, 2011 10:58 am

JT Estoban

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think about all the things I could have done with my own money had I actually had it in my wallet to decide on my own what to do with it.

MPI has been stealing 30-40% off my premiums for years, that's what this confirms.

I'd like the PUB to have the same audit capabilities as the CRA, lets go back over the last 7 years, and if there's any anomaly in those 7 years, go back 7 more, lather, rinse, repeat.

I predict MPI would be bankrupt in a matter of months with all the mandated "rebates" they'd be forced to issue.

Surprised this isn't a bigger issue for the other parties this election cycle....McFadden should be all over this, make some goddamn political hay...make the NDP answer for this!

Will MPI be reducing rates going forward? Not likely...buy why shouldn't that be a demand by the public who's obviously been ripped off?

But, most sheeple seem to be happy they are getting a "free rebate"....duh!


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53 Re: MPI, rate-setting lashed on Tue Apr 05, 2011 11:02 am

Deank

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sputnik wrote:Does anyone know which months the rebate applies to?

All I have read is that it is for "09/10".

for the last 17 years of overcharging for the PIPP it is simply too difficult to go back and give everyone for those last 17 years a XX% rebate so the simplest method the PUB chose was to give back the entire amount based on revenue from 09-10 which was like 45.2%.

Its not that we were paying 45% more for 17 years.. thats what the total adds up to.


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54 Re: MPI, rate-setting lashed on Tue Apr 05, 2011 11:02 am

Deank

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"I'd like the PUB to have the same audit capabilities as the CRA, lets go
back over the last 7 years, and if there's any anomaly in those 7
years, go back 7 more, lather, rinse, repeat."

They went back over the last 17 years.


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Why do we call them fingers if no one has ever seen them fing?

55 Re: MPI, rate-setting lashed on Tue Apr 05, 2011 11:04 am

Deank

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Deank wrote:
sputnik wrote:Does anyone know which months the rebate applies to?

All I have read is that it is for "09/10".

for the last 17 years of overcharging for the PIPP it is simply too difficult to go back and give everyone for those last 17 years a XX% rebate so the simplest method the PUB chose was to give back the entire amount based on revenue from 09-10 which was like 45.2%.

Its not that we were paying 45% more for 17 years.. thats what the total adds up to.

oo.. but you are probably asking cause you just moved back

hmm.. well in theory you should simply get back 45% of what you paid in 2009-2010 fiscal year of MPI.. so... July 09 to June 10? I think


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56 Re: MPI, rate-setting lashed on Tue Apr 05, 2011 11:05 am

Deank

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contributor eminence


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57 Re: MPI, rate-setting lashed on Tue Apr 05, 2011 11:13 am

Deank

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this part is of a concern no?

"MPI will likely have to sell securities to fund an increased rebate, which, while associated with some risk, may also “trigger” new income, perhaps derived from the balance in AOCI (Accumulated Other Comprehensive Income), while decreasing the overall level of its investment portfolio;"


Sell securities? Why does MPI have securities? Are they trying to invest in something that will generate sufficient return such that Manitobans would never have to pay for insurance again?


Also.. why is the PUB ordering MPI to create a $20 million dollar road safety fund?


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58 Re: MPI, rate-setting lashed on Tue Apr 05, 2011 12:04 pm

grumpy old man

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THAT is the problem with these government "businesses". IF they stick to their original knitting perhaps all would be good. But governments love to stick their hand into the till to fund other initiatives.

MPI should be an insurance company only. It should not be donating money to any social or other agency. It should not be funding anything not directly related to insurance.

MPI and Hydro should never advertise "how great" they are. Nobody fricken cares. It is especially egregious when done around an election.


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59 Re: MPI, rate-setting lashed on Tue Apr 05, 2011 12:09 pm

Deank

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I see you noticed the most recent ads from "hydro" about them choosing the best route for bipole III?


what a joke. Hydro dont believe it.. yet they are forced to advertise it


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60 Re: MPI, rate-setting lashed on Tue Apr 05, 2011 8:10 pm

Winklovic

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Deank wrote:this part is of a concern no?

Sell securities? Why does MPI have securities? Are they trying to invest in something that will generate sufficient return such that Manitobans would never have to pay for insurance again?

I would suggest that all insurance companies hold securities.

61 Re: MPI, rate-setting lashed on Tue Apr 05, 2011 9:27 pm

Deank

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like what for instance?


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62 Re: MPI, rate-setting lashed on Wed Apr 06, 2011 9:18 pm

Winklovic

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Deank wrote:like what for instance?

Stocks, bonds, real estate. Have a look at page 30 of MPI's Annual Report.
http://mpi.mb.ca/AnnualReport/AnnualReport2009/PDFs/2009AnnualReportComplete.pdf

No different than the private insurer I worked for.

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