Special Mutual Rebate - Mutuality at its Best!
Your cheque is in the mail! Policyholders of PEI Mutual share a special relationship as Members of the Company. The Members of PEI Mutual have been protecting each other since 1885. Since that time we have welcomed Islanders to join in our values of shared protection, loss prevention and financial success.
Our company is a true Mutual. In years where financial results allow, our Members receive Mutual Rebates in the form of reduced annual premiums. In exceptional years our Members have received Special Mutual Rebates in the form of a cheque.
2020 was a challenging year in many ways; however, our Members' shared financial experience was very positive. As a result, our Board of Directors has declared Mutual Rebates totaling over $7,500,000. This means that our Members as of December 31st, 2020 will be receiving:
With our Head Office on Prince Edward Island, we make decisions locally for our policyholders. Our Board of Directors ensures that we maintain fair pricing and makes adjustments through Mutual Rebates when conditions permit. Mutual Rebates have been returned to our members in 31 of the last 37 years amounting to approximately $54,000,000.
- 15% of your 2020 premium paid to you by cheque totaling $4,500,000; and
- 10% of your 2021 premium which will be deducted from your renewal invoice totaling $3,000,000.
Thank you to our Members for choosing PEI Mutual as your insurance provider. We are here to serve you, providing insurance services at a fair price.
CEO / General Manager