REELING IN THE NET
Auto claims costs are down in Manitoba as the provincial insurer reported a 27.3 percent drop in the first quarter of 2021. The cost reduction takes the form of a $89.4 million savings for MPI. MPI also reported $115.5 million in net income for the first three months of the year after surplus distribution. Last year, MPI decided, “as financial relief to policyholders during the COVID-19 pandemic,” to redistribute all $110.1 million of surplus capital, marking 2020 net income as nil. MPI also said it previously applied for a 2.8 percent rate decrease in basic insurance premiums for the 2022/23 insurance year, which is expected to result in a rate reduction or no change for 74 percent of vehicles.
GROWING IN GIMLI
CARSTAR recently announced the opening of a new shop in Gimli, Manitoba. Owners of CARSTAR Gimli, Dan Jonsson and Skye Grexton, have been in the collision repair industry for over 30 years. Looking to continue growing their business, they joined CARSTAR in 1998 and have since grown their operations to seven locations. CARSTAR Gimli is a 3,000 square foot facility that is an MPI accredited facility and has its I-CAR Gold and Ford Aluminum certifications.