Under the Insurance Act, the Commission has general supervision over the rates and premiums that an insurance company charges for automobile insurance. Every auto insurance company must make an application to the Commission annually for approval of its rates and premiums, which must be based on a risk classification that is just and reasonable. The Superintendent of Insurance is responsible for all other oversight or regulation of automobile insurance companies.
General Information
Legislation & Regulations
For Industry
FILING GUIDELINES
- Disclosure & Filing Guidelines for Initial, Annual and Interim Rate Filings (Auto Insurance Directive IRAC-I-008, issued May, 2022)
- Filing Guidelines for Rate Group Table Updates (Auto Insurance Directive IRAC-I-009, issued May, 2022)
RATING PROFILES
Private Passenger Vehicles (12)
– Profiles P1 to P12
Commercial Vehicles (4)
– Profiles C1 to C4
Other Vehicles (11)
– Profiles M1 – M2 – Motorcycles (2)
– Profiles I1 – I2 – Inter-Urban Trucks (2)
– Profile MH1 – Motor Home (1)
– Profiles O1 – O2 – Off-Road Vehicles (2)
– Profiles S1 – S2 – Snow Vehicles (2)
– Profiles T1 – T2 – Taxis (2)
Useful Links
- PEI Office of the Superintendent of Insurance
- Insurance Bureau of Canada
- Minimum Required Auto Insurance Coverage for PEI Drivers
- Consumer Information – Auto Insurance
- CLEAR (Canadian Loss Experience Automobile Rating)
- IBC – Consumer Resources – Dispute Resolution
- IBC – Annual Updates on Insurance
- IBC – Insurance Fact Books
- Direct Compensation Property Damage (DCPD) – Effective October 1, 2015