Insurance Regulation

The Office of the Superintendent of Insurance regulates the business of insurance in Prince Edward Island.  The Superintendent of Insurance is responsible for the general supervision of the business of insurance within the province and to monitor and enforce compliance with the Insurance Act. 

Licensing and Regulatory Requirements

All insurers, agent and adjusters operating in the province are required to be licensed under the Insurance Act

• Insurance Adjuster
• Insurance Agent
• Insurance Company/Insurer
  • Insurance Company Taxes and Levies

Consumer Protection

We encourage the public to take the time to discuss your policies at purchase, and from time to time, with your agent or insurer, to ensure you continue to maintain the coverage which are right for you.  In addition, you should shop around to obtain various quotes as the coverage available and their cost may vary from insurer to insurer.

Consumer Awareness Initiatives

• Consumer Checklists:
  • Insurance Fraud Prevention: 3 Tips to Stay Safe
    • Always work with a licensed insurance provider (see Public License Searches below).
    • Learn how to recognize, avoid and report insurance fraud.
  • Natural Disasters - Are You Covered? 

* Acknowledgements - Consumer Awareness Initiatives and materials are developed by the Consumer Awareness Working Group of the Canadian Insurance Services Regulatory Organizations (CISRO). CISRO is a forum of Canadian regulatory authorities who are dedicated to consistent qualifications and conduct of business standards for insurance intermediaries. CISRO members collaborate on initiatives that support a consistent approach to consumer protection through the regulation of insurance intermediaries.

Public License Searches

The Financial and Consumer Services Division is pleased to provide an online lookup of valid insurance license holders within the province. All efforts are made to ensure the information provided is accurate however, users may wish to contact the Registry and Licensing Services to verify accuracy.

• Check Insurance Agent License
• Check Insurance Adjuster License
• Check Insurance Company License
  • To see if an Insurance Company is licensed, you can search the Corporate/Business Names Registry

Insurance Complaints

See Insurance Complaints and Inquiries for information on the complaints process. 

Legislation

• Insurance Act
  • Automobile Insurance Fault Determination Regulations
  • Automobile Levy Regulations
  • Compensation Association Regulations
  • Insurance Act Fees Regulations
  • Insurance Adjusters Regulations
  • Insurance Agents Regulations
  • Prohibited Underwriting Practices Regulations
  • Uninsured Automobile and Unidentified Automobile Coverage Regulations
• Premium Tax Act

Guidance Documents

As a member of Canadian Council of Insurance Regulators (CCIR) and Canadian Insurance Services Regulatory Organizations (CISRO), the Office of the Superintendent of Insurance expects insurance licensees in Prince Edward Island to adopt the principles as outlined in the following Guidance documents:

• Guidance Document: Conduct of Insurance Business and Fair Treatment of Customers
• Incentive Management Guidance 

Automobile Insurance

See Automobile Insurance for more detailed information on automobile insurance including Standard Policies, Endorsements, Minor Injury Cap, Direct Compensation Property Damage, Rideshare, etc. 

Notices/Bulletins

Contact Information 

Financial and Consumer Services
Shaw Building, 1st Floor
105 Rochford Street
Charlottetown, PEI
Telephone: (902) 368-4550 Ext 2

• Email (licensing matters): licensing@gov.pe.ca
• Email (insurance matters): insurance@gov.pe.ca