Provincial legislators are asking Manitoba Public Insurance (MPI) to offer property insurance policies once more – but the insurer is hesitant.
A motion recently put forward by councillors Ross Eadie of Mynarski and Cindy Gilroy of Daniel McIntyre called on the government to request MPI to return to providing property policies. The councillors reasoned that the insurer needs to return to property insurance due to the increasing difficulty for property owners to secure affordable coverage due to the lack of underwriters.
“This will help our economy to grow back after the pandemic,” said Eadie. “(Businesses) are getting with these much higher property insurance rates, and I’ve got businesses saying they’re getting the hell out of the north end. That’s not good.”
Winnipeg Sun reported that the motion, which was proposed during an executive policy committee meeting on Wednesday, passed 6-1.
MPI, however, is not too keen about returning to property insurance. Spokesperson Brian Smiley said that MPI got out of offering property insurance some 30 years ago, and that it has no desire to return.
Meanwhile, a spokesperson for Crown Service Minister Jeff Wharton said in a statement that there is no consideration for MPI to expand to other insurance schemes.
“It is not in MPI’s mandate, legal framework, or objectives to include home insurance, which is private in nature and currently has offerings across Canada,” the statement said.
