Home Truck News MPI will resume insuring carriers that operate outside Manitoba - Truck News

MPI will resume insuring carriers that operate outside Manitoba – Truck News

Manitoba Public Insurance (MPI) expects to start accepting Special Risk Extension (SRE) applications for longhaul trucking companies that operate beyond provincial borders next month, said MPI spokeswoman Kristy Rydz.

While MPI continues to accept applications for those operating within the province, the new SRE applications for longhaul truckers were paused last August.

This has forced operators not covered by the Basic Autopac – which includes personal injury third-party and all-perils insurance – to shop privately for cargo, general and third-party liability insurance coverage.

cyber insurance
(Photo: iStock)

The 10-day strike last year caused backlogs across the corporation and led to reduced underwriting capacity. In combination with the “longstanding, pandemic-related carrier profitability concerns”, this forced MPI to temporarily stop new SRE applications for longhaul truckers.

“MPI immediately established a joint working group with the Insurance Brokers Association of Manitoba (IBAM) and Manitoba Trucking Association to align on future eligibility criteria for longhaul trucking businesses to ensure they meet underwriting and safety criteria that support the long-term sustainability of this line of business,” Rydz said.

The Manitoba Trucking Association added it looks forward to continuing discussions with MPI and the IBAM to ensure that extra-provincial carriers meet the criteria to access these products.

Carriers react

However, carriers in Manitoba are not happy with the pause in the applications.

“It is disappointing that MPI, a publicly funded organization, whose mandate is to work on behalf of all Manitobans, has failed to operate responsibly over the last few years and in doing so has failed to make Manitobans a priority,” said Rod Miron, chief operating officer at Steinbach-based Big Freight Systems, in an email to TruckNews.com.

“The temporary pause means that we may have to seek alternate coverage out of province from private insurers. This will result in increased costs to our organization, which in turn just make it harder for Manitoba-based companies to stay competitive in an already tight market.”

Credit: Source link


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