The new executive of PEI Mutual Insurance Co. was recently elected following the Company's 2016 Annual Meeting. Incoming President, Stewart MacRae (right) accepts the gavel from outgoing President, George Matheson. Also looking on is Brian MacKinley, the Company's 2016 Vice-President.

The Claim's department at PEI Mutual Insurance Company has been busy over the past three years, paying out a record amount in losses through coverage provided under their insurance policies. In 2015, the Company covered $14.0 million in losses, preceded by $12.7 million in 2014 and $12.6 million in 2013.

Company CEO, Terry Shea, stated that he is very proud to be the Manager of this long-standing Company that helps to rebuild Island homes and communities. "Paying claims that are covered under our insurance policies is what we are all about. It is the premiums of the many that pay the claims of the few." He stressed that claims do have to go through a due diligence process to ensure that a loss is covered by the policy in force. Properly reviewing claims submitted for payment, ensures that the premiums of all policyholders do not go up unnecessarily. "Our philosophy is to provide excellent service, at a fair price."

Outgoing President, George Matheson, noted that 2014/2015 was a winter to remember on PEI. With snowfall amounts in some areas that exceeded seventeen feet, policyholders had to deal with large volumes of water running through the basements of their homes. He urged customers to become familiar with the coverages under their policies and to educate themselves on the steps that can be taken to mitigate such damage. He was proud to announce that the Company would be maintaining its 10% Mutual Rebate for the upcoming year.

PEI Mutual is located in Summerside and is the only insurance company of its type on PEI - truly an Island company, owned and operated by Islanders with decisions made locally.