Unlicensed Insurers

Unlicensed Insurers

The requirements related to unlicensed insurers are outlined in The Insurance Act (the “Act”) and The Insurance Regulations (the “Regulations”). A premium tax is payable by the purchaser of an insurance policy when purchasing insurance from an unlicensed insurer. Where the purchaser did not utilize the services of a special broker, the purchaser is required under the Act to pay the premium tax directly to FCAA. Where the purchaser did utilize the services of a special broker, the premium tax can be paid to the FCAA through the special broker.

In order to report the unlicensed insurance purchase, and calculate the amount of premium tax owing, an “unlicensed premium tax submission” must be made using FCAA’s “Registration and Licensing System” (RLS), a secure online system.  

Launch RLS to do the following:

• File an unlicensed insurance premium tax submission; and
• This will trigger an invoice identified the amount of premium tax payable.

The following documents provide guidance and instruction on how to use RLS and make the above submissions:

• RLS User Guide – Unlicensed Premium Tax
• Read the RLS Basics Guide