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Direct Compensation - Property Damage (DCPD)
Direct Compensation - Property Damage (DCPD) came into effect for automobile accidents that occurred in Prince Edward Island on or after October 1, 2015. What does DCPD mean? Under DCPD, consumers will be required to settle their property damages with their own insurer regardless...
Direct Compensation Property Damage Undertaking (Signatories)
The attached list of insurers have filed with the Superintendent an undertaking under section 254.3. If you require more information about the undertaking, please contact the Office of the Superintendent of Insurance at 902-368-4550.
Insurance Adjuster License
To apply to become a licensed insurance adjuster in Prince Edward Island, submit the online form below with the completed application (PDF), all associated documentation and the licensing fee, which is $200. Insurance Adjuster License Search You can check whether an insurance adjuster is licensed in PEI by going to the following link: Licensed Insurance Adjusters Licensing Information Licensing Period Both probationary and full adjuster’s licenses are issued for a two-year term. Licenses can be renewed up to 3 months in advance of your license expiration. We recommend you submit your...
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...
Life License Qualification Program (LLQP)
On January 1, 2016, insurance regulators across Canada, implemented a streamlined and updated entry level qualification program for new life insurance agents and new accident and sickness insurance agents. This initiative was called the Life License Qualification Program (LLQP)...
Automobile Insurance
Automobile Insurance Rates Automobile insurance is the only type of insurance for which rates are regulated in Prince Edward Island. Under the Insurance Act, the Island Regulatory and Appeals Commission has general supervision over the rates and premiums that an insurance company...
Insurance Company Taxes and Levies
Insurance Company Premium Tax and Automobile Levy Bulletin - Amendments to Premium Tax and Fire Tax Rate (Effective January 1, 2017) Premium Tax Insurers (except fraternals) are required to pay premium tax on premiums receivable for business transacted in the province. The...