All licensed insurers in the Yukon must:
- register;
- hold a Yukon licence; and
- renew their licence every year.
Listed below is information on:
- eligibility;
- the documentation you'll need to provide to renew; and
- fees.
We recommend reviewing this information before you apply to renew your licence.
Renewal period
The renewal period begins May 1. Apply for your renewal by June 1. This ensures we can process your licence before it expires on June 30.
It's illegal to do business or work in the new licence year before we've renewed your licence.
Processing time
Applications that meet all requirements will be automatically renewed.
If an application does not meet the automatic renewal requirements we'll review it within 15 business days. We'll confirm you've met all the legal requirements before we issue your licence.
We cannot process your application if you have not provided us with all the information or documentation we need.
You can apply to renew your insurer licence if the company meets all the following requirements:
- you hold a current insurer licence in the Yukon;
- you’re licensed and incorporated as an insurer in a Canadian province or under Canada’s Insurance Companies Act; and
- you continue to meet all of the requirements of Yukon’s Insurance Act.
Complaints or actions against the company
If the company has had any complaints or disciplinary or criminal action against it:
- we'll assess eligibility on a case-by-case basis; and
- we may not approve the registration or licensing.
Fees
You must pay the following fees for each class of licence you apply for.
Joint stock and mutual companies
Annual licence fees
- Life: $300
- Property: $150
- Accident: $150
- Other: $50
Mutual benefit and fraternal societies
Annual licence fees
- Life: $50
- Accident or sickness: $50
Municipal exchange
Annual licence, flat fee: $500
Payment
If your application is approved, you'll have to pay your annual licensing fee online and your licence will be renewed automatically.
If your application is not approved through the automatic process, we'll contact you by email for more information. If after review, your application is approved, we’ll email you an invoice for you annual licensing fee. Once you receive this invoice, you can pay through the portal.
- Log in to the portal.
- Select “Licensing” and then “Renew my licence”. Here you’ll find the step-by-step process to renew your licence.
- Complete the application form and submit.
For questions about the renewal process, email [email protected] or phone 867-455-2977.