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Is it time for a larger insolvency fund for Canadian P&C insurers?

September 28, 2021 by Jason Contant

Canada’s Property and Casualty Insurance Compensation Corporation (PACICC) is considering whether it needs to increase the size of its compensation fund in the event of a P&C insurer failure. PACICC’s board has asked management to complete a formal review of

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What to tell your clients when their insurer goes bust

August 13, 2021 Canadian Underwriter Staff

What would happen if a property and casualty insurer were to go bust? Last week, thousands of Florida home owners were left scrambling for coverage when — during peak hurricane season — Sarasota-based Gulfstream Property & Casualty announced its liquidation

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COVID’s impact on the Canadian P&C industry’s capital base

March 22, 2021 by David Gambrill

COVID-19 may have affected the earnings of individual P&C insurers unevenly, but the industry’s overall capital base reached the unparalleled height of $52.6 billion during the first three quarters of 2020, according to the Property and Casualty Insurance Compensation Corporation

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How this Supreme Court ruling impacts contractor insolvency risk

November 3, 2020 by Greg Meckbach

A recent Supreme Court of Canada ruling means construction clients need to be careful about contract wording that refers to insolvency or bankruptcy. With the Oct. 2 ruling, the Supreme Court of Canada has taken away a tool that a

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PACICC ups insolvency benefits to consumers

April 20, 2020 by David Gambrill

Canada’s property and casualty insurance companies have upped the benefit amounts they will pay out to policyholders in the wake of an insurance company insolvency. In addition, they have broadened coverage for some commercial specialty lines customers who were previously

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How commercial insurers are addressing this D&O coverage gap

September 21, 2018 by Greg Meckbach

If your corporate client goes under and occupies polluted land, what happens if individual directors are left on the hook to clean up environmental contamination? This is the subject of “long, complex discussions” that Aon Canada brokers are having with