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P ERSONAL I NJURY P ROTECTION P LAN

P ERSONAL I NJURY P ROTECTION P LAN. Don Palmer Chief Actuary and Director of Pricing & Economics. Where Manitoba Is. Winnipeg. Manitoba Public Insurance. Crown Corporation Established in 1971 Provides compulsory coverage as a monopoly

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P ERSONAL I NJURY P ROTECTION P LAN

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  1. PERSONAL INJURYPROTECTION PLAN Don Palmer Chief Actuary and Director of Pricing & Economics

  2. Where Manitoba Is Winnipeg

  3. Manitoba Public Insurance • Crown Corporation • Established in 1971 • Provides compulsory coverage as a monopoly • Provides optional coverage in competition with private sector

  4. Our Mission Statement • Protecting Manitobans from the human and economic cost of automobile accidents

  5. Pre-PIPP Environment • Prior to 1994 injury compensation was a tort add-on scheme • Rapidly increasing injury costs • High percentage of non-economic loss • Under compensation of seriously injured

  6. Incurred ($000)

  7. Choices for Change • Tort Reform • Pure no-fault

  8. PIPP Overview – Objectives • Stabilize Injury Costs • Compensate Manitobans adequately, fairly and promptly

  9. PIPP Overview – Principles • Coverage for all Manitobans • Compensation for real economic loss • Guaranteed compensation regardless of fault • Indexation of Benefits

  10. PIPP Overview – Benefits • Income Replacement • Medical Expenses • Rehabilitation • Impairment Benefits • Death Benefits

  11. Incurred ($000)

  12. Stabilizing Injury Costs • Primary Insurer – almost • Manitoba Health Services Commission and Canada Pension Plan still primary • Maintain Case Management control • Data to Monitor Cost Drivers • Cost Trade-offs • Covering the Cost of the many, not the few

  13. PIPP Surprises • Overall Satisfaction of the Public

  14. PIPP Surprises • Costs of Catastrophic injuries • Number of losses have varied from 54 to 96 • Ultimate cost other varies from $29M to $65M • Initially surprised reinsurers

  15. PIPP Challenges • Case management approach may lead to “data neglect” • Increasing durations, especially “non-earners” • Reserving challenges • Impact of pre-existing conditions • Accountability of practitioners

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