Canadian Underwriter

Event

PACICC Research Report Launch – How Big is Too Big? The Tipping Point to Systemic Failure

Print this page

by PACICC
May 12, 2021
PACICC Webinar - May 12, 2021 (1:00-2:00 p.m. EDT)


PACICC Research Report Launch
– How Big is Too Big?  The Tipping Point to Systemic Failure
by Grant Kelly
May 12, 2021 (1:00-2:00 p.m. EDT)
Virtual

You are invited to join PACICC President & CEO Alister Campbell and Chief Economist Grant Kelly for the release of PACICC’s latest research report… How Big is Too Big? The Tipping Point for Systemic Failure.”  The report updates a PACICC P&C Industry Model that established the threshold above which some form of catastrophic event (e.g. earthquake, grid failure, asteroid strike) would trigger the systemic failure of Canada’s property & casualty (P&C) insurance industry – and identified a precise “tipping point”.

PACICC is the resolution authority for Canada’s P&C insurance industry, with a mission to assist Canadian policyholders in the unlikely event that their insurance company becomes insolvent and is closed by regulators.  Both previous PACICC research studies identified a catastrophic damage threshold above which Canada’s P&C insurance system would be exposed to systemic failure.  Despite strong prudential regulation and the best efforts of highly capitalized private insurers to prepare for a very large catastrophic event (such as a major earthquake), there is a clear and definite limit to the capacity of Canada’s private insurance system to respond.  The report puts forward a compelling case for the implementation of a federal backstop mechanism to protect Canadians from the impact of a severe “tail-risk” event.

Registration information for the event has been sent to industry stakeholders.  If you were not contacted directly and would like to attend this virtual event, please contact:

Denika Hall
Operations Manager
PACICC
events@pacicc.ca






Print this page

Related