Here in Manitoba, we have a government monopoly that runs the auto insurance industry. There's only one place to get it, and they have you by the short ones if you balk at paying what they charge.
Several times over the past few years, they've had a surplus in their coffers at the end of the year and all insured vehicle owners have gotten about a 10% rebate cheque in the mail.
Considering I pay about $1500 a year for insurance, it's been kinda nice to get that little bit of money in the mailbox.
They have been closely scrutinized by the public utilities board this year... and found to have a much larger surplus than they had admitted to. The PUB is forcing them to issue rebates of 45% to all of us motorists by the end of May at the latest. That's $320 million...
For a corporation that is mandated to operate with the best interests of car owners in Manitoba in mind, this surplus is seen by most of us as blatant thievery. I, for one, will be very glad to get that rebate cheque.
And I certainly hope to see my rates drop significantly too.