Keyword
Property and Casualty Insurance Compensation Corporation
Fort Mac wildfire more than an “earnings event” for some insurers, domestic market posts $1 billion underwriting loss in H1: MSA
September 28, 2016 by Canadian UnderwriterThe Fort McMurray wildfire may have been an “earnings event” for the largest insurers in Canada’s property and casualty industry, but that was not the case for some smaller regional writers, notes the newly released MSA Quarterly Outlook Report for…
C.D. Howe Institute report calls for federal emergency backstop arrangement for earthquakes
August 3, 2016 by Canadian UnderwriterA former federal Superintendent of Financial Institutions is calling for a last-resort federal emergency backstop arrangement for P&C insurers to minimize the systemic financial impact resulting from a “catastrophic and likely uninsurable natural disaster,” such as earthquake. “A federal emergency…
Catastrophic earthquake could threaten Canada’s p&c industry, government backstop needed for “unthinkable” events: IBC
April 22, 2016 by Angela StelmakowichA catastrophic earthquake could threaten Canada’s property and casualty industry, clearly illustrating the need to have in place a government backstop, Sylvie Paquette, chair of the Board of Directors for Insurance Bureau of Canada (IBC), said following IBC’s Annual General…