Key Findings from the PACICC Global Failed Insurer Catalogue

Moderator: Moshe Arye Milevsky, Professor of Finance, CIT Chair in Financial Service, York University//Schulich School of Business


The CEO of Canada’s Property and Casualty Insurance Compensation Corporation (PACICC), Alister Campbell, will present the Third Edition of the organization’s Global Failed Insurer Catalogue.  More than 20 years have passed since a property and casualty (P&C) insurer failed in Canada – back in 2003 – and so it can be very tempting to conclude that insurer failures are a thing of the past. This research project provides compelling evidence of the continuing risk of insurer failure – in both developing as well as developed economies. PACICC believes that this Catalogue is now the world’s most comprehensive, publicly available database of failed insurers.

 

Key findings include:

 

Alister Campbell will also discuss growing solvency risk related to sequential catastrophic events.


PACICC is the industry-funded, non-profit resolution authority for Canada’s P&C insurance industry. PACICC’s mission is to protect eligible policyholders from undue financial loss in the event that a Member Insurer becomes insolvent.