Who Provides Insurance Coverage for Padder Policies?
For Padder offerings structured as insurance, coverage is provided under a policy issued by a licensed insurer. The insurer responsible for paying eligible claims is identified on your policy declarations (or certificate) and policy documentation.
Current insurer (Padder Guarantor and Padder Deposit)
Padder Guarantor and Padder Deposit are currently issued by The Insurance Company of Prince Edward Island (ICPEI), which is a wholly owned subsidiary of Desjardins Group.
Who pays eligible claims
Eligible claims are paid by the insurer, subject to the policy terms, limits, exclusions, and documentation requirements.
Padder’s role
Padder supports the program experience as a licensed insurance agency. Padder is not the insurer unless explicitly stated in your policy documents.